Japanese Candlesticks Analysis 14.03.2022 (USDCAD, AUDUSD, USDCHF)

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, after forming a Hammer reversal pattern close to the support level, USDCAD is reversing and may form a new rising impulse. In this case, the upside target may be at 1.2855. However, an alternative scenario implies that the asset may correct to rebound from 1.2735 and then resume trading upwards.

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, AUDUSD has formed a Shooting Star reversal pattern near the resistance area. At the moment, the asset is reversing and starting a new decline. In this case, the downside target may be the support level at 0.7220. After testing the level, the price may rebound from it and resume the ascending impulse. At the same time, an opposite scenario implies that the price may grow to reach 0.7340 and continue the uptrend without testing the support level.

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, after testing the resistance area, the pair has formed a Doji reversal pattern. At the moment, USDCHF may reverse in the form of a new descending impulse. In this case, the downside target may be at 0.9325. Still, there might be an alternative scenario, according to which the asset may grow to reach 0.9400 and continue the ascending tendency without correcting towards the support level.