Japanese Candlesticks Analysis 31.05.2018 (USDCAD, AUDUSD)

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, USDCAD has fallen towards the support level and formed several Inverted Hammer reversal patterns there. At the moment, it may be assumed that the instrument may be corrected for a while 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 reached the resistance level and formed several Doji and Engulfing reversal patterns below it. Judging by the previous movements, it may be assumed that the instrument is being corrected and later may resume trading upwards.

RoboForex Analytical Department