Japanese Candlesticks Analysis 09.06.2023 (USDCAD, AUDUSD, USDCHF)
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD has formed an Inverted Hammer reversal pattern on H4. The instrument is now going by the reversal signal in an ascending wave. The correction target might be 1.3410. Next, the price has a chance to rebound and continue the downtrend. However, the quotes might decline to the 1.3310 level without a correction.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has formed a Doji reversal pattern on H4. At this stage, the instrument is going by the reversal signal in a descending wave. The decline target could be 0.6635. The quotes might break this target and continue the downtrend upon testing the support. However, the price might pull back to 0.6735 before the decline.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF has formed a Hammer 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 0.9055. Upon testing the resistance level, the price could break it and continue developing the uptrend. However, the price might pull back to 0.8965 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.