Japanese Candlesticks Analysis 18.05.2018 (USDCAD, AUDUSD)

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, after forming several Hammer and Harami reversal patterns, USDCAD has rebounded from the support level once again and formed Shooting Star pattern at the top. Judging by the previous movements, it may be assumed that the correction may be over soon and then the instrument may continue falling.

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, AUDUSD is still forming a lot of Hammer, Doji, and Inverted Hammer reversal patterns. Judging by the previous movements, at the moment it may be assumed that these candlesticks indicate that the descending tendency may be over soon and the instrument may later resume trading upwards.

RoboForex Analytical Department