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Japanese Candlesticks Analysis 02.12.2019 (USDCAD, AUDUSD)

2 december 2019 - Fx4News

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, the ascending tendency continues. By now, USDCAD has formed Engulfing pattern close to the channel’s downside border. At the moment, we may assume that the pair may reverse to continue growing towards 1.3360. However, we shouldn’t ignore an alternative scenario, according to which the instrument may continue falling towards 1.3258.

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 pair continues forming the ascending tendency. By now, AUDUSD has formed several reversal patterns, such as Hammer, close to the support level. At the moment, the pair is starting to reverse. Judging by the previous movements, we may assume that the price may grow towards 0.6830. However, we shouldn’t ignore an alternative scenario, which implies that the instrument may resume falling to reach 0.6757 and update its closest lows.

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

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