Japanese Candlesticks Analysis 12.04.2024 (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 correction wave. The pullback target could be 1.3670. Next, the price might rebound from the support and continue its upward momentum. However, the quotes could rise to 1.3770 without testing the support level.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has formed a Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target might be 0.6565. After testing the resistance level, the quotes could break above it and maintain their upward trajectory. However, the price might correct to 0.6490 before a further rise.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF has formed a Doji reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could be 0.9185. Upon testing the resistance level, the price might break above it and continue developing the uptrend. However, the price could pull back to 0.9065 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.