Japanese Candlesticks Analysis 31.08.2023 (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 growth target might be 1.3620. Next, the price could break the resistance and continue the uptrend. However, the quotes could correct to 1.3500 before rising.
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 0.6555. Upon testing the resistance, the quote might rebound from it and continue developing the downtrend. However, the quotes might drop to 0.6424 without testing the resistance.
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 growth target might be 0.8875. Upon testing the resistance, the price might break it and continue developing the uptrend. However, the price could pull back to 0.8760 before rising.
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.