Japanese Candlesticks Analysis 31.01.2023 (USDCAD, AUDUSD, USDCHF)
USDCAD, “US Dollar vs Canadian Dollar”
On H4, the pair has formed a Hammer reversal pattern. Currently, the pair is going by the signal in an ascending wave. The goal of the correction will be 1.3465; later the pair may bounce off it and continue the decline. However, the price may drop to 1.3310 without pulling back to the resistance level.
AUDUSD, “Australian Dollar vs US Dollar”
On H4, the currency pair has formed a Hanging Man reversal pattern. Currently, the instrument is going by the signal in a descending wave. The goal of the pullback might be 0.6975. Upon testing the support level, the quotes may bounce off it and continue growing. However, the price may grow to 0.7100 and continue the uptrend without testing the support level.
USDCHF, “US Dollar vs Swiss Franc”
On H4, at the support level the pair has formed a Dodji reversal pattern. Currently, the pair is going by the signal in an ascending wave. The goal of the pullback might be 0.9295. Upon testing the resistance level, the pair may bounce off it and continue the downtrend. However, the quotes may fall to 0.9195 without correcting to the resistance level.
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.