Japanese Candlesticks Analysis 28.08.2023 (USDCAD, AUDUSD, USDCHF)
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD has formed a Harami reversal pattern on H4. Currently, the instrument could go by the reversal signal in a descending wave. The correction target might be 1.3550. Next, the price might rebound from the support level and continue the uptrend. However, the quotes could rise to 1.3660 without any correction.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has formed a Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target might be 0.6480. Upon testing the resistance, the quotes might get the chance for a rebound from is and the development of a downtrend. However, the quotes might drop to 0.6360 without testing the resistance level.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF has formed a Harami reversal pattern on H4. Currently, the instrument is going by the reversal signal in a descending wave. The correction target might be 0.8800. Upon testing the resistance, the price might rebound from it and go on developing an uptrend. However, the price could rise to 0.8885 without pulling back to the support level.
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.