USD/CAD, AUD/USD, USD/CHF: Japanese Candlesticks Analysis

USD/CAD

As we can see in the H4 chart, after re-testing the support level, USD/CAD has formed a “Hammer” pattern; right now, it is still reversing. Despite a stable descending tendency, the price is expected to grow towards 1.3280. Most likely, the asset will rebound from the resistance level and resume trading downwards to update the lows again. In this case, the downside target is at 1.3120.

USDCAD

AUD/USD

As we can see in the H4 chart, the uptrend continues. By now, after forming several reversal patterns, such as “Engulfing”, AUD/USD has started reversing. Most likely, the future scenario will be in favor of bulls; the upside target may be the resistance area at 0.7230. Later, the price may break the area and continue growing towards the rising channel’s upside border. At the same time, there is an opposite scenario, which implies a further decline to reach 0.7138 before the asset resumes trading upwards.

AUDUSD

USD/CHF

As we can see in the H4 chart, after rebounding from the support area, USD/CHF has formed several reversal patterns, including “Harami”, not far from the descending channel’s upside border. The downside target after a reversal is at 0.9020. Still, there might be an alternative scenario, according to which the asset may grow towards 0.9155 before resuming the downtrend.

USDCHF

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

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