Japanese Candlesticks Analysis 18.09.2023 (USDCAD, AUDUSD, USDCHF)
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD has formed an Inverted Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could be 1.3585. Next, the price might break the resistance and continue the uptrend. However, the quotes could correct to 1.3475 before rising.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has formed a Harami reversal pattern on H4. Currently, the instrument is going by the reversal signal in a descending wave. The decline target could be 0.6400. Upon testing the support, the quotes might break it and go on by the downtrend. However, the price might pull back to 0.6480 before falling.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF has formed a Hanging Man reversal pattern on H4. Currently, the instrument might go by the reversal signal in a descending wave. The correction target could be 0.8935. Upon testing the support, the price might rebound from it and develop the uptrend further. However, the price could grow to 0.9010 without any pullback.
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.