Japanese Candlesticks Analysis 22.04.2024 (USDCAD, AUDUSD, USDCHF)
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD has formed a Hammer reversal pattern on H4. Currently, the instrument might go by the reversal signal in an ascending wave. The growth target could be 1.3800. Next, the price might break above the resistance level and continue its upward momentum. However, the quotes could correct to 1.3690 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 correction target might be 0.6480. After testing the resistance level, the quotes could rebound from it and maintain their downward trajectory. However, the price might fall to 0.6395 without testing the resistance level.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF 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 0.9080. After testing the support level, the price might rebound from it and continue developing the uptrend. However, the price could rise to 0.9190 without correcting 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.