Japanese Candlesticks Analysis 21.09.2017 (USD/CAD, XAU/USD)

USD CAD, “US Dollar vs Canadian Dollar”

At the H4 chart, the USD/CAD pair continues growing and forming the ascending channel with Long-Legged Doji, Hammer, Doji, Harami, and Engulfing reversal patterns at support and resistance levels to define its borders. Right now, after finishing another correction, the pair is trading close to the resistance level and may grow to reach 1.2455.

XAU USD, “Gold vs US Dollar”

As we can see at the H4 chart, the instrument continues forming the descending channel with Gap, Engulfing, Shooting Star, Doji, Hammer, and Inverted Hammer patterns to define its borders. After completing another correction, the price formed Engulfing patterns and returned to the support level. Yesterday, the pair failed to reach 1290.50 and by now it has finished Inverted Hammer pattern, which may indicate another correction towards the resistance level at 1313.00.

RoboForex Analytical Department