Japanese Candlesticks Analysis 04.12.2020 (USDCAD, AUDUSD, USDCHF)

04.12.2020

USDCAD, “US Dollar vs Canadian Dollar”

On H4, USDCAD keeps forming a downtrend. The pair has formed several reversal patterns near the support level, including a Harami. The signals from the patterns might drive the price into a correction to 1.2920. However, the downtrend still might continue neglecting the signals, aiming at 1.2790.

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

AUDUSD, “Australian Dollar vs US Dollar”

On H4, the pair has started working off the signal from a Hanging Man pattern. Currently, the price keeps declining to the lower border of the ascending channel. Bouncing off the support line, the pair might develop another ascending impulse. The aim of growth is 0.7490. However, the quotations might return to 0.7385 before resuming growth.

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

USDCHF, “US Dollar vs Swiss Franc”

On H4, the pair has broken through the lower border of the descending channel and keeps declining. It has formed several reversal patterns near the support level, including a Hammer. The signals from the patterns might currently make the price pull back to 0.8960. Later the quotations might bounce off the resistance level and go on forming the downtrend. However, falling might still continue with no regard to the reversal patterns.

USDCHF
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.