Japanese Candlesticks Analysis 23.01.2023 (USDCAD, AUDUSD, USDCHF)
USDCAD, “US Dollar vs Canadian Dollar”
On H4, at the support level, the currency pair has formed a Hammer reversal pattern. The pair is now going by the signal in a correctional wave. The goal of the pullback might be 1.3450; then the price may bounce off the resistance level and continue the decline. However, the price may fall to 1.3300 without testing the resistance level.
AUDUSD, “Australian Dollar vs US Dollar”
On H4, at the support level, the currency pair has formed a Shooting Star reversal pattern. The pair is now going by the signal in a correctional wave. The goal of the pullback might be 0.6935. After testing the support level, the pair might bounce off it and continue the uptrend. However, the price may grow to 0.7060 without any serious correction.
USDCHF, “US Dollar vs Swiss Franc”
On H4, at the support level, the currency pair has formed a Hammer reversal pattern. The pair is now going by the signal in an ascending wave. The goal of the pullback might be 0.9220. After testing the resistance level, the pair might bounce off it and continue the downtrend. However, the price may drop to 0.9120 without any serious correction.
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.