Japanese Candlestick Analysis for 11.08.2021 (USDCAD, AUDUSD, USDCHF)

Article By RoboForex.com

USDCAD, “US Dollar vs Canadian Dollar”

On H4, the pair if completing a correction. At the support level, it has formed several reversal patterns including a Doji. Going by the signals, the quotations might continue growing with the aim of the resistance level of 1.2600. However, the quotations might drop to 1.2428 before further growing.

AUDUSD, “Australian Dollar vs US Dollar”

On H4, near the support level, the pair has formed several reversal patterns, including a Hammer. Going by the signals, the pair might pull back to the resistance line, aiming at 0.7373. However, the price might go down to the support level of 0.7275 and keep falling without testing the resistance level.

USDCHF, “US Dollar vs Swiss Franc”

On H4, USDCHF keeps growing. At the resistance level, the pair has formed several reversal patterns, including a Hanging Man. Going by the signals, the pair might end up correcting towards the support level, aiming at 0.9195. However, the price may still rise to 0.9285 without testing the support level.

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.