Japanese Candlesticks Analysis 09.09.2022 (USDCAD, AUDUSD, USDCHF)
USDCAD, “US Dollar vs Canadian Dollar”
On H4, at the resistance level, the pair has formed a Hanging Man reversal pattern. The pair is now developing the signal by a descending impulse. The goal of the decline is 1.2970; later the price might bounce off it and continue growth. However, it may still rise to 1.3115 and continue the uptrend without a test of the support level.
AUDUSD, “Australian Dollar vs US Dollar”
On H4, at the support level, the pair has formed a Hammer reversal pattern. The pair is now developing the signal of the pattern by an ascending impulse. The goal of growth might become 0.6865. Upon testing the resistance level, the quotes may bounce off it and continue falling. However, the quotes might just 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 reversal pattern Shooting Star. At this stage, the pair is going by the signal in a descending impulse. The goal of the decline might be 0.9615. Upon testing the support level, the price has a chance for bouncing off it and growing on. However, the quotes may still rise to 0.9755 and continue the uptrend 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.