Japanese Candlesticks Analysis 19.04.2021 (USDCAD, AUDUSD, USDCHF)

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, after forming several reversal patterns, including Harami, during the pullback, USDCAD may reverse and resume falling towards the support area at 1.2450. After testing the area, the price may continue its descending tendency. However, an alternative scenario implies a further uptrend to return to the resistance level at 1.2580 before the asset resumes its decline.

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, AUDUSD has formed several reversal patterns, such as Harami, not far from the resistance area. At the moment, the asset may reverse and start a new pullback. In this case, the correctional target may be the support area at 0.7680. At the same time, an opposite scenario implies that the price may grow towards the resistance level at 0.7800 and continue its ascending 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 0.9125 without reversing and correcting.