Japanese Candlesticks Analysis 15.02.2024 (USDCAD, AUDUSD, USDCHF)
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD 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 the 1.3520 level. Next, the price might rebound from the support and extend the uptrend. However, the quotes could rise to 1.3600 without testing the support.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has formed a Doji reversal pattern on H4. Currently, the instrument might go by the reversal signal in a descending wave. The decline target could be 0.6440. Upon testing the support, the quotes could break it and continue developing the downtrend. However, the price might pull back to 0.6520 before the decline.
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 a descending wave. The correction target could be the 0.8810 level. Upon testing the support, the quotes might rebound from the level and continue developing the uptrend. However, the quotes could rise to 0.8930 without testing 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.