Japanese Candlesticks Analysis 01.11.2022 (USDCAD, AUDUSD, USDCHF)
USDCAD, "US Dollar vs Canadian Dollar"
On H4, at the resistance level, the pair has formed a Sandwich reversal pattern. Currently, the pair is going be the signal in a descending wave. The goal of the pullback will be 1.3545. Later the price may bounce off the support level and continue the uptrend. However, the price may grow to 1.3700 without testing the support.
AUDUSD, "Australian Dollar vs US Dollar"
On H4, at the support level, the pair has formed a Harami reversal pattern. Currently, the pair is going by the signal in an ascending movement. The goal of growth may be 0.6500. Upon testing the resistance level, the quotes have a chance for a bounce and the development of yet another descending wave. However, the price may drop to 0.6365 without testing the resistance.
USDCHF, "US Dollar vs Swiss Franc"
On H4, at the resistance level, the pair has formed a Hanging Man reversal pattern. Currently, the pair may go by the signal in a descending wave. The goal of the correction will be 0.9960. After the test of the resistance, the pair has all the chances for a bounce and further development of the uptrend. However, the price may grow to 1.0080 without any correction.
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.