Japanese Candlesticks Analysis 12.07.2018 (USDCAD, AUDUSD)
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, USDCAD continues falling; from time to time, it stops near support levels and forms Hammer, Doji, and Inverted Hammer reversal patterns. At the moment, the price is being corrected once again. Judging by the previous movements, it may be assumed that the instrument may finish the pullback, break the support level, and then continue falling.
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, AUDUSD keeps growing and forming several Doji, Hammer, and Engulfing reversal patterns during pullbacks. Judging by the previous movements, it may be assumed that the instrument may complete the correction and then continue moving upwards.
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.