Japanese Candlesticks Analysis 12.09.2019 (USDCAD, AUDUSD)

September 12, 2019

Article By RoboForex.com

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, USDCAD continues trading close to the rising channel’s downside border and forming reversal patterns. Right now, the pair is trying to reverse after forming Harami pattern. At the moment, it may be assumed that the price may complete a slight correction and resume growing towards 1.3280. However, we shouldn’t ignore a possibility that the instrument may update the low and continue its decline to reach 1.3121.

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

AUDUSD, “Australian Dollar vs US Dollar”

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As we can see in the H4 chart, AUDUSD is trading close to the resistance level and forming reversal patterns, including Harami. The pair wasn’t able to reverse and updated the high instead. Judging by the previous movements, we may assume that the price may continue trading upwards to reach 0.6900. However, we shouldn’t ignore a possibility that the instrument may resume falling 0.6820.


Article By RoboForex.com

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.