Japanese Candlesticks Analysis 03.03.2023 (USDCAD, AUDUSD, USDCHF)
USDCAD, “US Dollar vs Canadian Dollar”
On H4, the pair has formed a Shooting Star reversal pattern. The instrument is now going by the signal in a descending wave. The target of the correction might be 1.3535; later the price might push off it and continue growing. However, the price may rise to 1.3655 without pulling back to the support level.
AUDUSD, “Australian Dollar vs US Dollar”
On H4, the pair has formed an Inverted Hammer reversal pattern. The instrument is now going by the signal in an ascending wave. The target of the growth remains at 0.6785. Upon testing the resistance level, the quotes may push off it and continue falling. However, the price may fall to 0.6675 and continue the downtrend without correcting to the resistance level.
USDCHF, “US Dollar vs Swiss Franc”
On H4, at the resistance level the pair has formed a Hanging Man reversal pattern. The instrument is now going by the signal in a descending wave. The target of the pullback might be 0.9350. Upon testing the support, the pair may push off it and continue with the uptrend. However, the price may grow to 0.9460 without correcting to the support 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.