Japanese Candlesticks Analysis 03.02.2023 (USDCAD, AUDUSD, USDCHF)
USDCAD, “US Dollar vs Canadian Dollar”
On H4, the pair has formed a Hammer reversal pattern. The pair is now going by the reversal signal in an ascending wave. The goal of the correction might be 1.3375; later the price can bounce off it and continue the decline. However, the price may fall to 1.3260 without any pullback to the resistance level.
AUDUSD, “Australian Dollar vs US Dollar”
On H4, the pair has formed a Hammer reversal pattern. The pair may now go by the reversal signal in an ascending wave. The goal of the growth might be 0.7165. Upon testing the resistance level, the quotes may break through it and continue growth. However, the price may pull back to 0.7030 and continue the uptrend after the correction.
USDCHF, “US Dollar vs Swiss Franc”
On H4, at the support level the pair has formed a Hammer reversal pattern. The pair is now going by the reversal signal in an ascending wave. The goal of the pullback might be 0.9180. Upon testing the resistance level, the price might get a chance to bounce off it and develop the downtrend further. However, the price may fall to 0.9060 without any correction to the resistance level.
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.