Japanese Candlesticks Analysis 28.04.2020 (USDCAD, AUDUSD, USDCHF)
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, the ascending tendency continues. At the moment, after completing the pullback towards the channel’s downside border, USDCAD has formed a Hammer pattern. The upside target may be at 1.4240. At the same time, there might be another scenario, which implies that the instrument may fall towards the support level at 1.3940.
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, the ascending tendency continues. After completing a Doji pattern not far from the resistance level, the price is expected to reverse and start a new pullback towards the channel’s downside border. The downside target may be at 0.6356. Still, the instrument may choose an opposite scenario and continue trading upwards to test 0.6620 without reversing.
USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, the pair continues the ascending tendency. By now, USDCHF has formed several reversal patterns, such as Hammer, near the channel’s downside border. The current situation suggests that after reversing the pair may continue the ascending tendency. In this case, the upside target may be at 0.9792. However, one shouldn’t ignore another scenario, according to which the instrument may fall and return to 0.9690.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
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