Japanese Candlesticks Analysis 10.09.2020 (USDCAD, AUDUSD, USDCHF)
USDCAD, “US Dollar vs Canadian Dollar”
On H4, the pair escaped the borders of the descending channel and formed a Shooting Star near the resistance level. The quotations now keep working off the signal of the reversal pattern. Next, they will most probably perform a pullback and go on declining to the support level. The aim of the downtrend is 1.3000. However, the price may still return to 1.3240.
AUDUSD, “Australian Dollar vs US Dollar”
On H4, the currency pair keeps developing an uptrend. Near the support level, it formed a Hammer and started working off the pattern. We may suppose that next, after the correction, the pair will resume growth with the aim at the resistance level of 0.7345. However, the price may still return to the lower border of the channel. The decline will be aiming at 0.7190.
USDCHF, “US Dollar vs Swiss Franc”
On H4, the pair keeps developing a downtrend. Currently, the price has formed several reversal patterns, including a Shooting Star, near the resistance level. In the working-off, it aims at 0.9035. However, the quotations may still pullback to 0.9190 before further development of the downtrend.
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.