Japanese Candlesticks Analysis 16.03.2018 (USDCAD, AUDUSD)
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, USDCAD has broken the resistance level, reached new highs, and formed several Harami and Shooting Star patterns. Judging by the previous movements, it may be assumed that after completing these reversal patterns, the instrument may be corrected for a while before continuing its growth.
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, AUDUSD has finished the correction and formed several Hammer reversal patterns. At the moment, it may be assumed that these candlesticks indicate a new ascending movement after the correction.
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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.