Japanese Candlesticks Analysis 06.06.2023 (USDCAD, AUDUSD, USDCHF)
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD has formed an Inverted Hammer reversal pattern on H4. At this stage, the instrument could go by the reversal signal in an ascending wave. The correction target could be 1.3470. Next, the price might rebound from this level and continue the downtrend. However, the quotes might drop to 1.3335 without any correction.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has formed a Hammer reversal pattern on H4. At this stage, the instrument is going by the reversal signal in an ascending wave. The correction target could be 0.6700. Upon testing the resistance, the quotes might rebound from it and go on developing the downtrend. However, the quotes might drop to 0.6600 without testing the resistance.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF has formed a Doji reversal pattern on H4 near the support level. At this stage, the instrument might go by the reversal signal in an ascending wave. The growth target could be 0.9140. Upon testing the resistance level, the price could break it and go on developing the uptrend. However, the price might pull back to 0.9020 before growing.
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.