Thursday, September 29, 2022

USD/CAD, AUD/USD, USD/CHF Japanese Candlesticks Analysis



As we can see in the H4 chart, the correction within the descending tendency continues. Right now, after re-testing the resistance area and forming several reversal patterns, such as “Harami”, is expected to reverse and fall towards 1.3040. However, an alternative scenario implies that the price may return to the resistance area at 1.3245 before resuming the downtrend.



As we can see in the H4 chart, continues the correction from the channel’s downside border. Right now, after forming several reversal patterns, such as “Harami”, at the top of the correction, the pair is expected to reverse and move downwards. In this case, the downside target may be the support area at 0.7000. At the same time, an opposite scenario says that the price may grow to return o 0.7165 before resuming its decline.



As we can see in the H4 chart, the downtrend continues. After forming several reversal patterns, such as “Inverted Hammer”, close to the horizontal support level, is reversing and correcting. In this case, the upside target may be the resistance area at 0.9125. Still, there might be an alternative scenario, according to which the asset may continue falling and return to the support level at 0.9000 without reversing and correcting.


Disclaimer: 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.

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Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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