Japanese Candlesticks Analysis 01.12.2022 (USDCAD, AUDUSD, USDCHF)
USDCAD, “US Dollar vs Canadian Dollar”
On H4, at the support level, the pair has formed a Harami reversal pattern. Currently, the pair is going by the signal in a descending wave. The goal of the decline may be 1.3330; next thing, the price might break through the support level and extend the downtrend. However, the price may pull back to 1.3480 before declining.
AUDUSD, “Australian Dollar vs US Dollar”
On H4, at the support level, the currency pair has formed a Hammer reversal pattern. Currently, the pair may go by the signal in an ascending wave. The goal of the growth may be 0.6910. Upon testing the resistance level, the quotes might get a chance to break through it and continue the uptrend. However, the price may pull back to 0.6765 before growing.
USDCHF, “US Dollar vs Swiss Franc”
On H4, at the resistance level, the pair has formed a Doji reversal pattern. Currently, the pair may go by the signal in a descending wave. The goal of the decline might be 0.9300. Upon testing the support level, the pair might get a chance to break through it and continue developing the downtrend. However, the price may pull back to 0.9525 before declining.
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.