Japanese Candlesticks Analysis 16.06.2022 (USDCAD, AUDUSD, USDCHF)
USDCAD, "US Dollar vs Canadian Dollar"
On H4, USDCAD formed a Hammer at the support level. Going by the signal, the pair currently get into another ascending impulse. The goal of the growth will be 1.3030. However, the price can still drop to the support level of 1.2870 with a subsequent bounce and continuation of the uptrend after a correction.
AUDUSD, "Australian Dollar vs US Dollar"
On H4, at the resistance level, the pair formed a Harami reversal pattern. Going by this pattern now might result in a descending impulse. The aim of the decline is 0.6890. Upon testing the support, the quotes might break it away and go on declining. However, the price might grow to 0.7090 and continue the downtrend after the correction.
USDCHF, "US Dollar vs Swiss Franc"
On H4, at a pullback, upon testing the support level, the pair formed an Inverted Hammer. The pair can now go by the pattern in an ascending impulse. The goal of growth might be 1.0080. Upon testing the resistance level, the pair has all the chances to break through it and continue the uptrend. However, the price can drop to 0.9890 and continue the uptrend upon correcting.
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.