Japanese Candlesticks Analysis 28.02.2022 (USDCAD, AUDUSD, USDCHF)

Article By RoboForex.com

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, after forming a Hammer reversal pattern close to the support level, USDCAD is reversing and may form a new ascending impulse. In this case, after a slight correction, the upside target may be the resistance area at 1.2865. However, an alternative scenario implies that the asset may correct to reach 1.2755 first and then resume trading upwards.

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, AUDUSD has formed a Hammer reversal pattern near the support area. At the moment, the asset is reversing and starting a new growth. In this case, the upside target may be the resistance level at 0.7280. After testing the level, the price may break it and continue the ascending impulse. At the same time, an opposite scenario implies that the price may correct to reach 0.7155 before resuming the uptrend.

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, after testing the resistance area, the pair has formed several reversal patterns, for example, Engulfing and Harami. At the moment, USDCHF is reversing in the form of a new descending impulse. In this case, the downside correctional target may be at 0.9220. Still, there might be an alternative scenario, according to which the asset may continue growing to reach 0.9310 without any serious corrections.

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.