Get No Deposit Bonus Get No Deposit Bonus

 

 

Japanese Candlesticks Analysis 05.12.2019 (USDCAD, AUDUSD)

5 december 2019 - Fx4News

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, the pair has broken the rising channel’s downside border; right now, it is moving close to the support level, where it earlier formed Hammer reversal pattern. The current situation implies that USDCAD may reverse to continue growing towards 1.3266. However, we shouldn’t ignore an alternative scenario, according to which the instrument may continue falling to reach 1.3113.

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. After forming several reversal patterns, such as Hammer, close to the support level and reversing, AUDUSD is moving in the middle of the rising channel. By now, it has completed Engulfing reversal pattern along with the correction and may later continue trading upwards. In this case, the upside target may be at 0.6888. However, we shouldn’t ignore an alternative scenario, which implies that the instrument may resume falling to return to 0.6760 and update its closest lows.

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

Forex analitiks

<a data-cke-saved-href="https://www.instaforex.org/" href="https://www.instaforex.org/">Forex Portal</a>