Japanese Candlesticks Analysis 27.12.2023 (USDCAD, AUDUSD, USDCHF)
USDCAD, "US Dollar vs Canadian Dollar"
USDCAD has formed an Inverted Hammer reversal pattern on H4. Currently, the instrument could go by the reversal signal in an ascending wave. The pullback target might be 1.3255. Next, the price could rebound from the resistance and continue the downtrend. However, the quotes might drop to 1.3115 without any correction.
AUDUSD, "Australian Dollar vs US Dollar"
AUDUSD has formed a Harami reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target might be 0.6890. Upon testing the resistance, the quotes could break it and continue developing the uptrend. However, the price could correct to 0.6800 before rising.
USDCHF, "US Dollar vs Swiss Franc"
USDCHF has formed a Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The correction target could be 0.8590. Upon testing the resistance, the price might rebound from it and go on developing the downtrend. However, the price might drop to 0.8500 without testing the resistance.
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.