Japanese Candlesticks Analysis 04.04.2024 (USDCAD, AUDUSD, USDCHF)
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD has formed a Shooting Star reversal pattern on H4. Currently, the instrument is going by the reversal signal in a descending wave. The correction target could be the 1.3485 level. Next, the price has a chance for a rebound from the support and an uptrend development. However, the quotes could rise to 1.3560 without testing the support.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has formed a Harami reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could be 0.6630. After testing the resistance, the price might break it and continue with the uptrend. However, the quotes could correct to 0.6560 before rising.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF has formed an Inverted Hammer reversal pattern on H4. Currently, the instrument might go by the reversal signal in an ascending wave. The growth target could be 0.9090. After testing the resistance, the price might break it and continue developing the uptrend. However, the quotes could pull back to 0.9000 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.