Japanese Candlestick Analysis 29.06.2022 (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 1.2985. Later, the market may break this level and continue to grow. However, an alternative scenario means that the asset may correct to reach 1.2800 first and then resume trading upwards.


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 inverted hammer Reversal pattern near the support area. At the moment, the asset may reverse and form a new ascending impulse. In this case, the bullish target might be the 0.6960 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 0.6835 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 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 0.9635. 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 fall to 0.9510 and continue its upward trend only after the correction.

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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