Japanese Candlesticks Analysis 21.09.2023 (USDCAD, AUDUSD, USDCHF)
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD has formed an Engulfing reversal pattern on H4. Currently, the instrument is going by the reversal pattern in an ascending wave. The growth target could be 1.3585. Next, the price might break the resistance level and continue the uptrend. However, the quotes could correct to 1.3460 before rising.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has formed an Engulfing reversal pattern on H4. Currently, the instrument is going by the reversal pattern in a descending wave. The decline target could be 0.6370. Upon testing the support level, the quotes might break it and continue developing the downtrend. However, the price could pull back to 0.6445 before falling.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF has formed an Engulfing reversal pattern on H4. Currently, the instrument is going by the reversal pattern in an ascending wave. The growth target could be 0.9040. Upon testing the resistance, the price might break it and continue developing the uptrend. However, the quotes could pull back to 0.8965 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.