Japanese Candlesticks Analysis 10.11.2020 (USDCAD, AUDUSD, USDCHF)

Article By RoboForex.com

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, the descending tendency continues. Right now, after forming several reversal patterns, such as Harami, close to the support area, USDCAD is expected to reverse and correct towards 1.3120. After testing the resistance area, the instrument may resume moving downwards with the target at 1.2900.

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, after breaking the descending channel’s upside border, AUDUSD continues moving upwards. By now, the pair has formed several reversal patterns, including Harami, not far from the resistance level. Possibly, the asset may reverse and correct towards 0.7240. After finishing the pullback, the asset may resume growing. In this case, the target will be at 0.7375.

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, the asset continues forming the ascending impulse. After forming several reversal patterns, such as Harami, not far from the horizontal resistance level, USDCHF is expected to reverse and form a slight correction, which may be followed by further growth. In this case, the next upside target may be the channel’s upside border at 0.9175. Later, the market may rebound from the resistance area and resume falling. If it happens, the downside target will be the support level at 0.9040.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.