Japanese Candlesticks Analysis 22.05.2020 (USDCAD, AUDUSD, USDCHF)
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, the ascending tendency continues. By now, USDCAD has formed a Hammer pattern not far from the support level. At the moment, the price is reversing. Most likely, the pair may correct for a while and then resume growing towards 1.4090. Later, after breaking this level, the market may continue the ascending impulse.
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, after testing the resistance level and forming a Shooting Star pattern, AUDUSD is reversing. The downside target may be the support level at 0.6425. In case of further growth, the upside target may be at 0.6614.
USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, USDCHF has formed several reversal patterns, such as Hammer, close to the support level. At the moment, the pair is reversing. Later, the market may correct for a while and then resume growing with the target at 0.9770. The downside may be the support level at 0.9637.