Japanese Candlesticks Analysis 22.04.2021 (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 growing towards the resistance area at 1.2550. After testing the area, the price may rebound and resume its descending tendency. However, an alternative scenario implies a further downtrend to return to the support level at 1.2435.

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, AUDUSD has formed several reversal patterns, such as Engulfing, not far from the resistance area. At the moment, the asset may reverse and start another pullback. In this case, the correctional target may be the support area at 0.7705. 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 asset is about to finish the correction within the downtrend. At the moment, after forming several reversal patterns, such as Harami, not far from the resistance area, USDCHF is reversing to start a new decline. In this case, the downside target may be the support level at 0.9050. Still, there might be an alternative scenario, according to which the asset may grow to reach 0.9200 without reversing and correcting.