Japanese Candlesticks Analysis 13.10.2017 (USD/CAD, GOLD)
USD CAD, “US Dollar vs Canadian Dollar”
At the H4 chart, the USD/CAD pair formed the ascending channel with Hammer, Doji, Engulfing, and Shooting Star reversal patterns at support and resistance levels to define its borders. After breaking the downside border of the channel, the price finished Inverted Hammer and Hammer patterns, formed another correction with two Hanging Man patterns at the top of it. At the moment, the instrument is still falling towards the support level at 1.2427.
XAU USD, “Gold vs US Dollar”
At the H4 chart, the instrument completed its descending movement, reversed, and started forming the ascending channel with Engulfing, and Inverted Hammer patterns at the support and resistance level to define its borders. Right now, the price continues growing and breaking resistance levels. The upside target is still at 1311.37.
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