Japanese Candlesticks Analysis 01.06.2020 (USDCAD, AUDUSD, USDCHF)

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, the descending tendency continues. By now, USDCAD has formed a Hammer pattern not far from the support level. However, the price is not currently expected to reverse. Most likely, in the nearest future, the pair may continue falling towards the support area at 1.3655.

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, after testing another resistance level, AUDUSD is still trading upwards. At the moment, the upside target is the resistance area at 0.6905. In the future, the pair is expected to rebound from the area within the rising tendency. The correctional target is at 0.6655

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, USDCHF has formed several reversal patterns, such as Hammer, on its way to the support area. At the moment, the pair is expected to continue falling without reversing. In this case, the downside target may be at 0.9587. After that, the instrument may rebound from the support area and resume growing towards the resistance level at 0.9685.