Japanese Candlesticks Analysis 07.02.2018 (USDCAD, AUDUSD)
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, USDCAD has completed another correction with several Hanging Man, Shooting Star, and Engulfing reversal patterns at the top. At the moment, it may be assumed that the pullback is over and the instrument may continue moving downwards.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
AUDUSD, “Australian Dollar vs US Dollar”
In the H4 chart, AUDUSD has finished the correction and formed several Hammer, Inverted Hammer, and Doji reversal patterns. Taking into account that these patterns were formed close to the support level, they may probably indicate that the pullback is over and the instrument may continue its growth.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
RoboForex Analytical Department
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.