Japanese Candlestick Analysis 15.07.2022 (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 1.3240. Later, the market may break this level and continue to grow. However, an alternative scenario means that the asset may correct to reach 1.3070 and continue to the upside only after pulling back.


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 on the four-hour chart, the Australian dollar formed against the US dollar thief Reversal pattern while pulling back. At the moment, the asset is reversing in the form of a new descending impulse wave. In this case, the downside target might be the 0.6655 support level. After testing the level, the price may break it and continue the downtrend. At the same time, the opposite scenario indicates that the price may rise to reach 0.6790 and continue the uptrend after the correction.

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

USDCHF, “US Dollar vs. Swiss Franc”

As we can see in the H4 chart, after testing the support area, the pair formed several reversal patterns, for example, Hammer. At the moment, the USDCHF may reverse as a new ascending impulse. In this case, the bullish target may be at 0.9920. After testing the resistance level, the price may break it and continue trading upwards. However, there may be an alternative scenario, according to which the asset may correct to reach 0.9790 first and then resume the upward trend.

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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