Japanese Candlesticks Analysis 11.01.2019 (USDCAD, AUDUSD)
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, USDCAD is still trading close to the support level and forming Hammer, Doji, and Inverted Hammer reversal patterns. Judging by the previous movements, it may be assumed that right now the instrument may form another correction and then resume its descending movement.
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, AUDUSD is testing the resistance level and forming Hanging Man, Shooting Star, and Doji reversal patterns. Judging by the previous movements, it may be assumed that after finishing the correction the instrument may continue the uptrend.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.