Japanese Candlesticks Analysis 04.07.2018 (USDCAD, AUDUSD)
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, USDCAD has rebounded from the resistance level and formed Shooting Star, Engulfing, and Hanging Man reversal patterns. Judging by the previous movements, at the moment it may be assumed that the instrument may form several more reversal patterns and then resume falling.
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, AUDUSD keeps testing the support level with slight pullbacks and forming several Hammer, Doji, Engulfing, and Inverted Hammer reversal patterns. Judging by the previous movements, it may be assumed that the instrument may complete this sideways movement and resume moving upwards.
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.