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

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1. USD/CAD

As we can see in the H4 chart, USD/CAD continues updating its lows and forming reversal patterns. Right now, the pair is forming a pullback after completing a “Hammer pattern”. Taking into account a stable descending tendency, the price is expected to correct 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 1.3115.
USD/CAD H4USD/CAD H4

2. AUD/USD

As we can see in the H4 chart, the asset continues correcting within the uptrend. By now, AUD/USD has formed another “Hammer” pattern. However, considering that the pattern was formed in the middle of the rising channel, the pair is not expected to reverse. Most likely, the price will continue trading downwards. The downside target may be the rising channel’s downside border at 0.7138. Later, the price may rebound from the support level and resume the rising tendency. In this case, the upside target will be at 0.7235.
AUDUSDAUDUSD

3. USD/CHF

As we can see in the H4 chart, after rebounding from the support area, USD/CHF has formed several reversal patterns, including “Shooting Star”, not far from the descending channel’s upside border. The downside target is at 0.9065. Still, there might be an alternative scenario, according to which the asset may grow towards 0.9194 before resuming the downtrend.
USDCHFUSDCHF

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.

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

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

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