Japanese Candlesticks Analysis 12.04.2022 (USDCAD, AUDUSD, USDCHF)

12.04.2022

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, after forming a Harami reversal pattern close to the resistance level, USDCAD is reversing in the form a new descending impulse. In this case, the downside target may be at 1.2595. However, an alternative scenario implies that the asset may correct to rebound from the resistance level at 1.2736 and then resume the downtrend.

USDCAD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, AUDUSD has formed an Engulfing reversal pattern near the support area. At the moment, the asset is reversing and starting a new rising impulse. In this case, the upside target may be the resistance level at 0.7530. After testing the level, the price may break it and continue the ascending impulse. At the same time, an opposite scenario implies that the price may correct to reach 0.7385 before resuming the uptrend.

AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, after testing the support area, the pair has formed several reversal patterns, such as Hammer. At the moment, USDCHF may reverse in the form of a new ascending impulse. In this case, the upside target may be at 0.9365. After testing the resistance level, the price may break it and continue trading upwards. Still, there might be an alternative scenario, according to which the asset may correct to reach 0.9280 first and then resume growing.

USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Attention!

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.