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Japanese Candlesticks Analysis 30.05.2022 (USDCAD, AUDUSD, USDCHF)

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, after forming several reversal patterns, such as Shooting Star, close to the resistance level, USDCAD is reversing in the form of another descending impulse. In this c…

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, after forming several reversal patterns, such as Shooting Star, close to the resistance level, USDCAD is reversing in the form of another descending impulse. In this case, the downside target may be at 1.2620. However, an alternative scenario implies that the asset may correct to rebound from the resistance level at 1.2760 first and then resume the descending tendency.

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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 Inverted Hammer reversal pattern near the support area. At the moment, the asset may reverse and start a new ascending impulse. In this case, the upside target may be the resistance level at 0.7260. After testing the level, the price may break it and continue the ascending tendency. At the same time, an opposite scenario implies that the price may correct to reach 0.7140 before resuming the uptrend.

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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, including Hammer. At the moment, USDCHF may reverse in the form of a new correctional impulse. In this case, the upside correctional target may be at 0.9625. After testing the resistance level, the price may rebound from it and resume trading downwards. Still, there might be an alternative scenario, according to which the asset may continue falling to reach 0.9445 without any pullbacks towards the resistance level.

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USDCHF

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

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