Japanese Candlesticks Analysis 12.02.2024 (USDCAD, AUDUSD, USDCHF)

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD has formed a Hammer reversal pattern on H4. Currently, the instrument might go by the reversal signal in an ascending wave. The growth target could be 1.3545. Next, the price might have a chance for breaking the resistance and extending the uptrend. However, the quotes could correct to the 1.3430 level before rising.

USDCAD

Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has formed a Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The correction target could be 0.6550. Upon testing the resistance, the quotes might rebound from it and continue developing the downtrend. However, the quotes could drop to 0.6460 without testing the resistance.

AUDUSD

Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has formed a Hanging Man reversal pattern on H4. Currently, the instrument might go by the reversal signal in a descending wave. The correction target could be 0.8700. Upon testing the support, the price might rebound from it and continue the uptrend. However, the price could grow to 0.8815 without testing the support.

USDCHF

Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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Source: RoboForex


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