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Japanese Candlesticks Analysis 21.09.2017 (USD/CAD, XAU/USD)

Article By RoboForex.com

USD CAD, “US Dollar vs Canadian Dollar”

At the H4 chart, the USD/CAD pair continues growing and forming the ascending channel with Long-Legged Doji, Hammer, Doji, Harami, and Engulfing reversal patterns at support and resistance levels to define its borders. Right now, after finishing another correction, the pair is trading close to the resistance level and may grow to reach 1.2455.

 

XAU USD, “Gold vs US Dollar”

As we can see at the H4 chart, the instrument continues forming the descending channel with Gap, Engulfing, Shooting Star, Doji, Hammer, and Inverted Hammer patterns to define its borders. After completing another correction, the price formed Engulfing patterns and returned to the support level. Yesterday, the pair failed to reach 1290.50 and by now it has finished Inverted Hammer pattern, which may indicate another correction towards the resistance level at 1313.00.

 

RoboForex Analytical Department

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.

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About Louie Lewis

Louie Lewis
Successful forex trading starts with you first. Then comes the actual strategies and techniques. I have been involved with forex and forex trading for a few years now. It is a wonderful way to build wealth. The learning never stops and I want to help others along their journey into this wonderful market of opportunity.

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