Japanese Candlesticks Analysis 12.01.2018 (USD/CAD, AUD/USD)

12.01.2018

USD CAD, “US Dollar vs Canadian Dollar”

At the H4 chart, the current correction is taking more time than expected. As we can see, the USD/CAD pair has reached the resistance level and formed several Shooting Star and Hanging Man reversal patterns, which may indicate that the pullback is over and the instrument may continue falling.

USDCAD

 

AUD USD, “Australian Dollar vs US Dollar”

At the H4 chart, the AUD/USD pair updated its closest highs again and then formed several Shooting Star and Hanging Man reversal patterns. Based on the previous ascending movement, we may assume that the instrument may continue growing despite many reversal signals.

AUDUSD

 

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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.