Japanese Candlesticks Analysis 22.03.2024 (USDCAD, AUDUSD, USDCHF)
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD has formed a Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could be 1.3610. Next, the price might break above the resistance and continue its upward momentum. However, the quotes could undergo a correction to 1.3525 before rising.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has formed a Shooting Star reversal pattern on H4. Currently, the instrument is going by the reversal signal in a descending wave. The correction target might be 0.6500. After testing the support, the price might rebound from it and continue developing the uptrend. However, the quotes could rise to the 0.6565 level without testing the support.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF has formed a Shooting Star reversal pattern on H4. Currently, the instrument is going by the reversal signal in a descending wave. The correction target could be 0.8955. Upon testing the support, the price might rebound from it and maintain its upward trajectory. However, the price could rise to 0.9050 without pulling back to the support.
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.