Japanese Candlesticks Analysis 09.07.2018 (AUDUSD, USDCAD)
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, AUDUSD keeps growing and forming several Doji and Engulfing reversal patterns during slight pullbacks. Judging by the previous movements, it may be assumed that the instrument may continue moving upwards despite the above-mentioned reversal patterns.
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, USDCAD has rebounded from the resistance level. Right now, the pair is falling; from time to time, it stops near support levels and forms Hammer and Inverted Hammer reversal patterns, which do not confirm a reverse. At the moment, the price is being corrected once again. Judging by the previous movements, it may be assumed that the instrument may break the support level and then continue falling.
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.