Japanese Candlesticks Analysis 22.06.2021 (USDCAD, AUDUSD, USDCHF)

Article By RoboForex.com

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, the asset continues testing the support level where it has formed several reversal patterns, including Hammer. At the moment, USDCAD may reverse and start a new growth towards 1.2490. After testing this level, the price may break it and continue its ascending tendency. However, an alternative scenario implies that the asset may fall to reach the next support area at 1.2335 before further growth.

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, AUDUSD has formed several reversal patterns, such as Hammer, not far from the support level. At the moment, the asset may reverse in the form of another ascending impulse. In this case, the upside target may be the resistance area at 0.7570. At the same time, an opposite scenario implies that the price may fall towards the support level at 0.7445, break it, and then continue trading downwards.

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, the asset is still rebounding from the support area, where it has formed an Engulfing reversal pattern. At the moment, USDCHF may reverse and start a new growth. In this case, the upside target may be the resistance level at 0.9260. Still, there might be an alternative scenario, according to which the asset may return to 0.9140 before resuming its growth.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.