Japanese Candlesticks Analysis 29.02.2024 (USDCAD, AUDUSD, USDCHF)
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD has formed a Shooting Star reversal pattern on H4. Currently, the instrument might go by the reversal signal in a descending wave. The correction target could be 1.3545. Next, the price might rebound from the support and extend the uptrend. However, the quotes could rise to 1.3635 without any pullback.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has formed an Inverted Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could be 0.6565. Upon testing the resistance, the quotes might break it and extend the uptrend. However, the price could pull back to 0.6480 before rising.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF has formed a Hammer reversal pattern on H4. Currently, the instrument might go by the reversal signal in an ascending wave. The growth target could be 0.8850. Upon testing the resistance, the price might break it and extend the uptrend. However, the quotes could pull back to 0.8750 before rising.
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.