Japanese Candlesticks Analysis 28.05.2018 (USDCAD, AUDUSD)
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, USDCAD has reached the resistance level and formed several Shooting Star and Engulfing reversal patterns there. At the moment, it may be assumed that the instrument may rebound once again and then resume trading to the downside.
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, AUDUSD is still moving upwards forming Hammer and Inverted Hammer reversal patterns during corrections. By now, it has completed another correction with Hammer pattern. Judging by the previous movements, it may be assumed that the instrument may finish another pullback and then continue trading upwards.
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.