Japanese Candlesticks Analysis 07.11.2022 (USDCAD, AUDUSD, USDCHF)
USDCAD, “US Dollar vs Canadian Dollar”
On H4, at the support level, the pair has formed a Hammer reversal pattern. Currently, the pair is going by the reversal signal in an ascending wave. The goal of growth will be 1.3600; later the price can break through the resistance level and extend the uptrend. However, the price may pull back to 1.3415 before growth.
AUDUSD, “Australian Dollar vs US Dollar”
On H4, at the resistance level, the pair has formed a Shooting Star reversal pattern. Currently, the pair is going by the signal in a descending movement. The goal of the decline might be 0.6240. After a test of the support level, the quotes have a chance to break through it and continue with the descending wave. However, the price may still pull back to 0.6490 before the decline.
USDCHF, “US Dollar vs Swiss Franc”
On H4, at the support level, the pair has formed a Hammer reversal pattern. Currently, the pair may go by the signal in an ascending wave. The goal of growth will be 1.0070. After a test of the resistance level, the quotes have a chance to break through it and continue with the uptrend. However, the price may pull back to 0.9880 before growth.
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.