Japanese Candlesticks Analysis 20.02.2024 (USDCAD, AUDUSD, USDCHF)
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD has formed a Harami reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could be 1.3600. Next, the price has a chance for breaking out the resistance and extending the uptrend. However, the quotes might correct to 1.3480 before rising.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has formed a Shooting Star reversal pattern on H4. Currently, the instrument might go by the reversal signal in a descending wave. The decline target could be 0.6480. Upon testing the support, the quotes might have a chance for breaking it and further developing the downtrend. However, the quotes could pull back to 0.6560 before falling.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF 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 0.8910. Upon testing the resistance, the price has a chance for breaking this level and further developing the uptrend. However, the quotes might pull back to 0.8790 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.