Japanese Candlesticks Analysis 19.03.2021 (USDCAD, AUDUSD, USDCHF)

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, after forming several reversal patterns, including Hammer, not far from the support level, USDCAD is reversing in the form of a correction and may reach the resistance area. In this case, the upside target is at 1.2555. After testing the resistance area, the price may rebound and resume its descending tendency.

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, after forming several reversal patterns, such as Hammer, not far from the support area, the pair may reverse and resume growing to reach the resistance level at 0.7898. At the same time, an opposite scenario implies that the price may correct towards the next support level at 0.7660 before resuming its growth.

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, the sideways movement within the uptrend continues. At the moment, after forming a Harami reversal pattern not far from the support area, USDCHF is reversing and correcting. In this case, the correctional target is the resistance level at 0.9400. Still, there might be an alternative scenario, according to which the asset may correct to reach 0.9220 before resuming the uptrend.