Japanese Candlesticks Analysis 18.05.2018 (USDCAD, AUDUSD)

May 18, 2018

Article By RoboForex.com

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, after forming several Hammer and Harami reversal patterns, USDCAD has rebounded from the support level once again and formed Shooting Star pattern at the top. Judging by the previous movements, it may be assumed that the correction may be over soon and then the instrument may continue falling.

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

 


Get our Weekly Commitment of Traders Report: - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.




Get Our Free Metatrader 4 Indicators - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter






AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, AUDUSD is still forming a lot of Hammer, Doji, and Inverted Hammer reversal patterns. Judging by the previous movements, at the moment it may be assumed that these candlesticks indicate that the descending tendency may be over soon and the instrument may later resume trading upwards.

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

 

RoboForex Analytical Department

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.