Japanese Candlesticks Analysis 30.01.2020 (USDCAD, AUDUSD)

30.01.2020

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, after completing another growth and forming Shooting Star pattern, the pair has reversed. The current situation implies that USDCAD may form a slight correction and then resume growing towards 1.3240. after that, the instrument may start a new decline to reach 1.3153 to continue forming the ascending channel.

USDCAD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, the pair has completed another decline: it has formed several reversal patterns, such as Hammer, not far from the channel’s downside border. Right now, AUDUSD is starting to reverse; the upside target may be at 0.6800. However, we shouldn’t ignore an alternative scenario, which implies that the instrument may continue falling towards 0.6688 without reversing and forming another rising wave.

AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Attention!

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.