Japanese Candlesticks Analysis 16.02.2023 (USDCAD, AUDUSD, USDCHF)

By RoboForex.com

USDCAD, “US Dollar vs Canadian Dollar”

On H4, the pair has formed a Longed Legged Doji reversal pattern. The instrument is now going by the signal in a descending wave. The goal of the decline might be 1.3315; later the pair may break through the support level and continue the decline. However, the price may pull back to 1.3410 before falling.

AUDUSD, “Australian Dollar vs US Dollar”

On H4, the pair has formed a Doji reversal pattern. The instrument is now going by the signal in an ascending wave. The goal of the decline might still be 0.7000. After testing the resistance level the quotes might break through it and go on growing. However, the price may pull back to 0.6875 and continue the uptrend after the correction.

USDCHF, “US Dollar vs Swiss Franc”

On H4, at the resistance level the pair has formed a Shooting Star reversal pattern. The instrument is now going by the signal in a descending wave. The goal of the decline might be 0.9165. Upon testing the support level, the pair might break through it and further develop the downtrend. However, the price may pull back to 0.9270 before the decline.

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.