Japanese Candlesticks Analysis 29.01.2019 (USDCAD, AUDUSD)
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, USDCAD is still trading near the support level; it has completed another pullback and formed several Long-Legged Doji and Engulfing reversal patterns. Judging by the previous movements, it may be assumed that right now the instrument may form another correction and then resume its descending movement.
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, AUDUSD has rebounded from the resistance level and formed Shooting Star and Hanging Man reversal patterns. Judging by the previous movements, it may be assumed that after finishing the correction the instrument may start a new decline.
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.