Japanese Candlesticks Analysis 22.05.2019 (USDCAD, AUDUSD)

22.05.2019

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, USDCAD is trading inside the triangle. After forming Hammer pattern, the price rebounded from the support level; right now, it is moving upwards. This ascending movement may reach 1.3470 and then the instrument may start a new correction towards 1.3380.

USDCAD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, the descending tendency continues, while AUDUSD is trading sideways. Right now, the instrument is testing the support level and has already formed Hammer reversal pattern. Based on the above, we may assume that the price is going to reverse and reach 0.6900 and then continue the descending tendency towards 0.6834.

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

Attention!

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.