09 Jan

Japanese Candlesticks Analysis 09.01.2020 (USDCAD, AUDUSD)

January 9, 2020

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, the descending tendency continues. By now, the pair has finished several reversal patterns, including Hammer, near the channel’s downside border. The current situation implies that USDCAD may form a slight ascending correction to reach 1.3060 and then resume falling. However, we shouldn’t ignore an alternative scenario, according to which the instrument may return to 1.3141 without testing the channel’s upside border.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Uncategorized

Risk Disclosure: Foreign Currency trading and trading on margin carries a high level of risk and can result in loss of part or all of your investment. Due to the level of risk and market volatility, Foreign Currency trading may not be suitable for all investors and you should not invest money you cannot afford to lose. Before deciding to invest in the foreign currency exchange market you should carefully consider your investment objectives, level of experience, and risk appetite. You should be aware of all the risks associated with foreign currency exchange trading, and seek advice from an independent financial advisor should you have any doubts.

All information and opinions on this website are for general informational purposes only and do not constitute investment advice.

InvestMacro

Japanese Candlesticks Analysis 09.01.2020 (USDCAD, AUDUSD)