Japanese Candlestick Analysis 07.07.2022 (USDCAD, AUDUSD, USDCHF) :: InvestMacro


Article by RoboForex.com

USDCAD, “the US dollar against the Canadian dollar”

As we can see in the H4 chart, after forming a file thief Reversal pattern near the resistance level, USDCAD may reverse in the form of another correction push. In this case, the bearish corrective target might be the support area at 1.2980. Later, the market may bounce off this level and resume growth. However, an alternative scenario means that the asset may grow to 1.3145 and continue to the upside without testing the support area.


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

AUDUSD, “Australian dollar to US dollar”

As we can see in the H4 chart, AUDUSD has formed Hammer Reversal pattern near the support area. At the moment, the asset is reversing in the form of a new ascending impulse wave. In this case, the bullish target might be the 0.6875 resistance level. After testing the level, the price may bounce back from it and resume the downtrend. At the same time, the opposite scenario indicates that the price may decline to reach 0.6715 and continue to the downside without any corrections.

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

USDCHF, “US Dollar vs. Swiss Franc”


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As we can see in the H4 chart, after testing the resistance area, the pair formed several reversal patterns, for example, Doji. At the moment, USDCHF may reverse as a new corrective impulse wave. In this case, the bearish corrective target may be at 0.9655. After testing the support level, the price may bounce from it and resume trading upwards. However, there may be an alternative scenario, according to which the asset may grow to 0.9760 and continue to the upside without any pullback.

USDCHF

Article by RoboForex.com

attention!
Forecasts presented in this section only reflect the author’s own opinion and should not be considered guidelines for trading. RoboForex LP does not assume any responsibility for the trading results based on the trading recommendations described in these analytical reviews.



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