Japanese Candlesticks Analysis 18.02.2022 (USDCAD, AUDUSD, USDCHF)

Article By RoboForex.com

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, after forming another Hammer reversal pattern close to the support level, USDCAD is reversing and may form a new ascending impulse. In this case, the upside target may be the resistance area at 1.2815. However, an alternative scenario implies that the asset may correct to reach 1.2665 first and then resume trading upwards.

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, AUDUSD has formed a Hanging Man reversal pattern near the resistance area. At the moment, the asset is reversing and starting a new decline. In this case, the downside target may be the support level at 0.7150. After testing the level, the price may rebound from it and resume the ascending impulse. At the same time, an opposite scenario implies that the price may grow to reach 0.7255 without falling towards the support level.

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, after testing the support area, the pair has formed several reversal patterns, for example, Hammer and Engulfing. At the moment, USDCHF is reversing and moving within the ascending channel. In this case, the upside target may be at 0.9290. Still, there might be an alternative scenario, according to which the asset may correct to reach 0.9185 before resuming its ascending tendency.

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.