Japanese Candlesticks Analysis 11.03.2024 (USDCAD, AUDUSD, USDCHF)
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD has formed a Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target might be 1.3515. Next, the price could break the resistance and extend the uptrend. However, the quotes might correct to 1.3430 before growing.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has formed a Hanging Man reversal pattern on H4. Currently, the instrument is going by the reversal signal in a descending wave. The correction target might be 0.6590. After testing the support, the quotes could rebound from this level and continue developing the uptrend. However, the price might grow to 0.6650 without testing the support.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF has formed a Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target might be 0.8845. Upon testing the resistance, the price could break this level and continue developing the uptrend. However, the quotes might pull back to 0.8725 before rising.
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.