Japanese Candlesticks Analysis 30.03.2023 (USDCAD, AUDUSD, USDCHF)
USDCAD, “US Dollar vs Canadian Dollar”
On H4, USDCAD has formed a Shooting Star reversal pattern. Currently, the currency pair is going by the reversal signal in a descending wave. The target of the decline might be 1.3495. The price has a chance to break it and continue the downtrend. However, the price may pull back to 1.3590 before falling.
AUDUSD, “Australian Dollar vs US Dollar”
On H4, the pair has formed an Inverted Hammer reversal pattern. Currently, the instrument is going by the reversal signal in an ascending wave. The target of the growth might be 0.6740. After testing the resistance, the quotes have a chance to break it and go on developing the uptrend. However, the price may correct to 0.6670 and continue growing after the test of the support.
USDCHF, “US Dollar vs Swiss Franc”
On H4, near the support level, AUDUSD has formed a Hammer reversal pattern. Currently, the instrument is going by the reversal signal in an ascending wave. The target of the growth might be 0.9260. After testing the resistance, the price could break it and go on developing the uptrend. However, the price may pull back to 0.9140 before growing.
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.