Japanese Candlesticks Analysis 18.01.2023 (USDCAD, AUDUSD, USDCHF)

japanese-candlesticks-analysis-1801.2023-(usdcad,-audusd,-usdchf)

USDCAD, “US Dollar vs Canadian Dollar”

On H4, at the support level the pair has formed a Hammer reversal pattern. The pair is now going by the signal in a correctional wave. The goal of the decline might be 1.3455; then the price may bounce off the resistance level and continue falling. However, the price may drop to 1.3300 without testing the resistance.

AUDUSD, “Australian Dollar vs US Dollar”

On H4, at the support level, the pair has formed a Hammer reversal pattern. The price is now going by the pattern in an ascending wave. The goal of the growth may be 0.7040. Upon testing the resistance level, the pair might break through it and continue the uptrend. However, the quotes may pull back to 0.6950 before growing.

USDCHF, “US Dollar vs Swiss Franc”

On H4, at the support level, the pair has formed a Hammer reversal pattern. The price may now go by the signal in an ascending wave. The goal of the pullback may be 0.9280. After the test of the resistance level, the pair might bounce off it and develop the downtrend further. However, the price may drop to 0.9175 without any correction.

Source: Roboforex

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