Japanese Candlesticks Analysis 04.06.2020 (USDCAD, AUDUSD, USDCHF)
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, the descending tendency continues. By now, USDCAD has formed a Hammer pattern not far from the support level. However, the price is not currently expected to reverse. Most likely, in the nearest future, the pair may correct for a while and then continue falling towards the support area at 1.3460.
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, after testing another resistance level, AUDUSD is still trading upwards. By now, it has formed a Shooting Star pattern. At the moment, the price is expected to reverse and correct towards 0.6802. In the future, the pair is expected to resume the rising tendency. in this case, the upside target may be at 0.7070.
USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, USDCHF has formed several reversal patterns, such as Engulfing, while trading not far from the support area. At the moment, the pair is expected to return to 0.9587b and rebound from it. In this case, the upside target may be at 0.9685.
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