Japanese Candlesticks Analysis 27.10.2023 (USDCAD, AUDUSD, USDCHF)
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD has formed a Hanging Man reversal pattern on H4. Currently, the instrument could go by the reversal signal in a descending wave. The pullback target might be 1.3750. Next, the price could rebound from the support level and extend the uptrend. However, the quotes might rise to 1.3880 without any correction.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has formed an Inverted Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The correction target might be 0.6385. Upon testing the resistance level, the quotes could rebound from it and continue developing the downtrend. However, the quotes might drop to 0.6285 without pulling back to the resistance level.
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 0.9030. Upon testing the resistance, the price could rebound from it and go on developing the downtrend. However, the price might drop to 0.8910 without testing the resistance.
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.