Japanese Candlesticks Analysis 25.04.2023 (USDCAD, AUDUSD, USDCHF)
USDCAD, “US Dollar vs Canadian Dollar”
On H4, USDCAD has formed a Shooting Start reversal pattern. Currently, the instrument could go by the reversal signal in a descending wave. The target for the decline will be 1.3470. Next, the shares will have a chance to break the level and continue the downtrend. However, the price may pull back to 1.3610 before falling.
AUDUSD, “Australian Dollar vs US Dollar”
On H4, the currency pair has formed a Hammer reversal pattern. Currently, the instrument is going by the reversal signal in an ascending wave. The target for the growth might be 0.6725. After testing the resistance, the quotes will have a chance to break it and go on developing the uptrend. However, the price may pull back to 0.6665 before growing.
USDCHF, “US Dollar vs Swiss Franc”
On H4 near the support, USDCHF has formed a Hammer reversal pattern. Currently, the instrument could go by the reversal signal in an ascending wave. The target for the correction might be 0.8910. Upon testing the resistance, the target will get the chance for a rebound and further development of the downtrend. However, the price might drop to 0.8825 without any correction.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.