Japanese Candlesticks Analysis 21.03.2018 (USDCAD, AUDUSD)

21.03.2018

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, after breaking the highs, USDCAD has moved back and formed Hammer reversal pattern, which indicates that the instrument completed the correction and may continue its growth to update the highs.

USDCAD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

 

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, after breaking the support level, AUDUSD has stopped and formed several Doji, Hammer, and Engulfing reversal patterns. At the moment, it may be assumed that the instrument is being corrected before continuing its decline and updating its closest lows.

AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

 

RoboForex Analytical Department

 

Attention!

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.