28 Jan

Japanese Candlesticks Analysis 28.01.2021 (USDCAD, AUDUSD, USDCHF)

January 28, 2021

Article By RoboForex.com

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, the ascending tendency continues. Right now, after forming a Shooting Star reversal pattern not far from the resistance level, USDCAD may reverse in the form of another correctional wave towards the support area at 1.2720. Later, the asset may resume growing. In this case, the upside target will be at 1.2910. However, an alternative scenario implies a further growth towards 1.2910 without reversing and correcting.

USDCAD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, AUDUSD is forming a new descending impulse. Right now, after forming several reversal patterns, such as Hammer, not far from the support area, the pair may reverse and resume growing to reach the resistance area at 0.7740. At the same time, an opposite scenario says that the price may fall to return to 0.7595 without testing the resistance area.

Free Reports:

Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.





Download Our Metatrader 4 Indicators – Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter




AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, the correction within the downtrend continues. At the moment, after forming several reversal patterns, such as Shooting Star, not far from the resistance area, USDCHF is correcting. Later, the asset may complete the correction and resume the descending tendency. In this case, the downside target may be the next support area at 0.8845. Still, there might be an alternative scenario, according to which the asset may start a new pullback towards 0.8930 before failing to test the support area.

USDCHF

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.


investmacro cot newsletter




Financial News Forex and Currency News