Japanese Candlesticks Analysis 02.05.2024 (USDCAD, AUDUSD, USDCHF)
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD has formed a Doji reversal pattern on H4. Currently, the instrument might go by the reversal signal in an ascending wave. The growth target could be 1.3790. Next, the price might break above the resistance level and continue its upward momentum. However, the quotes could correct to 1.3680 before rising.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has formed a Harami reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The correction target might be 0.6570. After testing the resistance level, the quotes could rebound from it and maintain their downward trajectory. However, the price might fall to 0.6470 without testing the resistance level.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF has formed a Harami reversal pattern on H4. Currently, the instrument might go by the reversal signal in an ascending wave. The growth target could be 0.9230. After testing the resistance level, the price might break above it and continue developing the uptrend. However, the price could pull back to 0.9135 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.