Japanese Candlesticks Analysis 14.04.2021 (USDCAD, AUDUSD, USDCHF)

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, after forming several reversal patterns, including Shooting Star, not far from the resistance level, USDCAD may reverse and fall towards the support area at 1.2475. After testing the support area, the price may continue its descending tendency. However, an alternative scenario implies a further uptrend to return to the resistance level at 1.2625 before resuming its decline.

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, AUDUSD has formed several reversal patterns, such as Hammer, not far from the support area. At the moment, the asset may reverse and resume growing. In this case, the upside target may be the resistance area at 0.7720. At the same time, an opposite scenario implies that the price may correct towards the support level at 0.7570 and continue its descending tendency.

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, the correction within the uptrend continues. At the moment, after forming several reversal patterns, such as Hammer, not far from the support area, USDCHF may reverse and resume growing. In this case, the upside target may be the resistance level at 0.9285. Still, there might be an alternative scenario, according to which the asset may continue falling to reach 0.9160 without reversing and correcting.