Japanese Candlesticks Analysis 24.12.2018 (USDCAD, AUDUSD)
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, USDCAD has broken another resistance level; right now, it is forming Shooting Star, Harami, and Hanging Man reversal patterns. Judging by the previous movements, right now it may be assumed that right now the instrument may form another correction and then resume its ascending movement.
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, AUDUSD is trading close to the support level and forming Hammer, Harami, and Engulfing reversal patterns. Judging by the previous movements, it may be assumed that after finishing the correction the instrument may start a new downtrend.
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.