Japanese Candlesticks Analysis 13.11.2020 (USDCAD, AUDUSD, USDCHF)

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, the pair is still correcting within the descending tendency. Right now, after forming a Harami reversal pattern, USDCAD is moving upwards to reach the channel’s upside border. The upside target is at 1.3200. After testing the resistance area, the instrument may resume moving downwards with the target at 1.2900.

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, AUDUSD continues reversing. Right now, the pair is testing the rising channel’s downside border. Possibly, the asset may rebound and resume moving upwards. In this case, the upside target will be the next resistance level at 0.7375.

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, the asset continues forming the ascending impulse. After forming several reversal patterns, such as Shooting Star, not far from the channel’s upside border, USDCHF is expected to reverse and resume the descending tendency. In this case, the next downside target may be the support area at 0.9040. Later, the market may continue falling to reach the descending channel’s downside border. Still, there might be an alternative scenario, according to which the asset may return to 0.9175 before resuming its decline.