Japanese Candlesticks Analysis 05.06.2018 (USDCAD, AUDUSD)
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, USDCAD is trading between support and resistance levels and forming Hammer and Inverted Hammer reversal patterns. At the moment, it may be assumed that the instrument may resume trading to the downside.
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, AUDUSD is still moving upwards and forming Doji, Hammer, and Inverted Hammer reversal patterns during corrections. By now, it has reached the resistance level and formed several Shooting Star reversal patterns below it. Judging by the previous movements, it may be assumed that the instrument is being corrected and later may resume trading 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.