Japanese Candlestick Analysis 12.07.2022 (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 support level, USDCAD may reverse as another bullish impulse wave. In this case, the bullish target might be the resistance area at 1.3125. Later, the market may break this level and continue to grow. However, an alternative scenario means that the asset may correct to reach 1.3000 and continue to the upside only after testing the support level.


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 0.6790 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 0.6655 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”


Get our free MetaTrader 4 indicators – Put our free MetaTrader 4 custom indicators on your charts when you join our weekly newsletter


Get weekly commitment to traders’ reports Find out where the largest traders (hedge funds and commercial hedgers) are located in the futures markets on a weekly basis.


As we can see in the H4 chart, after testing the resistance area, the pair formed several reversal patterns, for example, thief. At the moment, USDCHF may reverse as a new corrective impulse wave. In this case, the bearish corrective target may be at 0.9800. 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 0.9920 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.


Investmacro Products Link



Source link

Add a Comment

Your email address will not be published.