Japanese Candlesticks Analysis 22.06.2020 (USDCAD, AUDUSD, USDCHF)

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, the sideways tendency continues. Right now, USDCAD is moving above the resistance level. However, considering the current downtrend, one may assume that the asset may break the sideways channel to the downside and then continue trading downwards. In this case, the downside target may be the support level at 1.3400. Still, an opposite scenario suggests that the instrument may grow to reach 1.3700.

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, AUDUSD is still correcting within the uptrend. So far, it hasn’t formed any actual patterns. Possibly, the price may complete the pullback and then resume the rising tendency. In this case, the upside target remains at 0.7070. At the same time, one shouldn’t exclude another scenario, which implies that the instrument may continue falling towards 0.6780.

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, after forming a Hammer pattern and reversing, USDCHF has rebounded from the support level. At the moment, the pair continues trading sideways. In the future, the price may grow to reach 0.9570. However, considering the current sideways channel, there might be another scenario, according to which the instrument may continue trading downwards. In this case, the downside target may be at 0.9377.