Japanese Candlesticks Analysis 22.11.2019 (USDCAD, AUDUSD)
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, the ascending channel continues. By now, USDCAD has formed Harami pattern close to the channel’s upside border. At the moment, we may assume that the pair may reverse to reach 1.3265 and then continue growing towards 1.3333. However, we shouldn’t ignore an alternative scenario, according to which the instrument may continue falling towards 1.3265.
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, the pair continues forming the ascending channel. By now, AUDUSD has formed Hammer reversal pattern close to the support level. At the moment, the pair is reversing. Judging by the previous movements, we may assume that the price may grow towards 0.6860. However, we shouldn’t ignore an alternative scenario, which implies that the instrument may resume falling to reach 0.6776.
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.