Japanese Candlesticks Analysis 27.03.2024 (USDCAD, AUDUSD, USDCHF)
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD has formed a Hammer reversal pattern on H4. Currently, the instrument continues to go by the reversal signal in an ascending wave. The growth target could be 1.3635. Next, the price might break above the resistance and maintain its upward trajectory. However, the quotes could undergo a correction to 1.3565 before rising.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD 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 0.6580. After testing the resistance, the price might break above it and continue its upward momentum. However, the quotes could correct to the 0.6510 level before rising.
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 0.9000. Upon testing the support, the price might rebound from it and continue developing the uptrend. However, the price could rise to 0.9095 without pulling back to the support.
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.