Japanese Candlesticks Analysis 09.03.2023 (USDCAD, AUDUSD, USDCHF)

By RoboForex.com

USDCAD, “US Dollar vs Canadian Dollar”

On H4, USDCAD has formed a Shooting Star reversal pattern. Currently, the pair may go by the reversal signal in a descending wave. The target of the correction might be 1.3730; later the price might push off this level and continue the uptrend. However, the price may grow to 1.3875 without pulling back to the support.

AUDUSD, “Australian Dollar vs US Dollar”

On H4, AUDUSD has formed a Hammer reversal pattern. Currently, the pair is going by the reversal signal in an ascending wave. The target of the growth is 0.6655. Upon testing the resistance, the quotes might push off it and continue the decline. However, the price may drop to 0.6560 and continue the downtrend without any correction to the resistance.

USDCHF, “US Dollar vs Swiss Franc”

On H4, near the resistance level, USDCHF has formed a Hanging Man reversal pattern. The instrument is now going by the reversal signal in a descending wave. The target of the pullback might be 0.9370. After the test of the support, the price might push off it and continue with the uptrend. However, it may grow directly to 0.9450 without any correction to the support.

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.