Japanese Candlesticks Analysis 06.12.2022 (USDCAD, AUDUSD, USDCHF)
USDCAD, “US Dollar vs Canadian Dollar”
On H4, at the resistance level, the currency pair has formed a Shooting Star reversal pattern. Currently, the pair can go by the signal in a descending wave. The goal of the decline will be 1.3545; later the price may bounce off the support level and extend the uptrend. However, the price may grow to 1.3700 without any correction.
AUDUSD, “Australian Dollar vs US Dollar”
On H4, at the support level, the currency pair has formed a Hammer reversal pattern. Currently, the pair is going by the signal in an ascending wave. The goal of the growth might by 0.6840. Upon testing the resistance level, the pair will get the chance to break through it and continue the uptrend. However, the price may pull back to 0.6670 before growing.
USDCHF, “US Dollar vs Swiss Franc”
On H4, at the resistance level, the pair has formed a Doji reversal pattern. Currently, the pair may go by the signal in a descending wave. The goal of the decline will be 0.9260. Upon testing the support level, the pair will get the chance for breaking through it and go on with the downtrend. However, the price may pull back to 0.9520 before falling.
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.