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Japanese candlesticks Analysis 29.05.2023 (USDCAD, AUDUSD, USDCHF)

29 may 2023 - Fx4News

USDCAD, “US Dollar vs Canadian Dollar”

On H4, USDCAD has formed an Engulfing reversal pattern. The instrument is now going by the reversal signal in a descending wave. The decline target might be 1.3555. Next, the price has a chance to break this target and continue the downtrend. However, the quotes might correct to the 1.3650 level before the decline.

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

AUDUSD, “Australian Dollar vs US Dollar”

On H4, AUDUSD has formed a Doji reversal pattern. The instrument is now going by the reversal signal in an ascending wave. The growth target might be 0.6590. After testing the resistance level, the quotes have a chance to rebound and continue developing a downtrend. However, the current situation might develop with the price declining to 0.6520 without testing the resistance.

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

USDCHF, “US Dollar vs Swiss Franc”

On H4, near the resistance level, USDCHF has formed a Hanging Man reversal pattern. The instrument is now going by the reversal signal in a descending wave. The correction target might be 0.9020. After testing the support level, the price has a chance to rebound and continue developing an uptrend. However, the price might rise to 0.9100 without a pullback to the support.

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

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