Japanese Candlesticks Analysis 10.04.2020 (USDCAD, AUDUSD, USDCHF)
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, the pair is forming the descending tendency. At the moment, USDCAD is moving not far from the descending channel’s upside border. In this case, the downside target may be at 1.3800. At the same time, there might be another scenario, which implies that the instrument may break the channel’s upside border and grow towards 1.4200.
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, the pair continues the ascending tendency. After completing a Shooting Star pattern in the middle of the rising channelю Possibly, AUDUSD may reverse and start a new correction to reach 0.6243. Still, the instrument may choose a different scenario and continue growing towards 0.6380 without reversing and correcting.
USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, the pair continues the correction within 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 0.9790. However, one shouldn’t ignore another scenario, according to which the instrument may return to 0.9600.