Japanese Candlesticks Analysis 27.09.2022 (USDCAD, AUDUSD, USDCHF)

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, after forming a Shooting Star reversal pattern close to the resistance level, USDCAD may reverse in the form of a new descending wave. In this case, the downside correctional target may be at 1.3600. Later, the market may rebound from this level and resume growing. However, an alternative scenario implies that the asset may grow to reach 1.3900 and continue the uptrend without testing the support area.

USDCAD

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

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, AUDUSD has formed a Doji reversal pattern near the support area. At the moment, the asset is reversing in the form of a new correctional impulse. In this case, the upside correctional target may be the resistance level at 0.6645. After testing the level, the price may rebound from it and resume the descending tendency. At the same time, the opposite scenario implies that the price may fall to reach 0.6410 and continue the downtrend without any pullbacks up to resistance level.

AUDUSD

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

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, the pair has formed a Shooting Star reversal pattern not far from the resistance area. At the moment, USDCHF may reverse in the form of a new descending wave. In this case, the downside correctional target may be the support level at 0.9840. After testing this level, the price may rebound from it and resume trading upwards. Still, there might be an alternative scenario, in which the asset may continue the ascending tendency to reach 1.0030 without testing the support level.

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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