Japanese Candlesticks Analysis 28.11.2023 (USDCAD, AUDUSD, USDCHF)
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD has formed a Hammer reversal pattern on H4. Currently, the instrument could go by the reversal signal in an ascending wave. The correction target might be 1.3645. Next, the price could rebound from the resistance and continue the downtrend. However, the quotes might drop to the 1.3580 level without pulling back.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has formed a Shooting Star reversal pattern on H4. Currently, the instrument could go by the reversal signal in a descending wave. The correction target might be 0.6570. Upon testing the support, the quotes could rebound from it and continue developing the uptrend. However, the price might rise to the 0.6655 level without testing the support.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF has formed a Hammer reversal pattern on H4. Currently, the instrument could go by the reversal signal in an ascending wave. The correction target might be 0.8835. Upon testing the resistance level, the price could rebound from it and continue developing the downtrend. However, the quotes might drop to 0.8765 without correcting.
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.