Japanese Candlesticks Analysis 28.01.2022 (USDCAD, AUDUSD, USDCHF)

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, after forming several reversal patterns, including Hanging Man, close to the resistance level, USDCAD is reversing and may form a new correctional impulse. In this case, the downside target may be the support area at 1.2655. However, an alternative scenario implies that the asset may grow to reach 1.2800 without any pullbacks.



AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, AUDUSD has formed a Hammer reversal pattern near the support area. At the moment, the asset is reversing and starting a new growth. In this case, the upside target may be the resistance level at 0.7090. After testing the level, the price may rebound from it and resume the descending tendency. At the same time, an opposite scenario implies that the price may fall to reach 0.7000 first and then grow towards the resistance level.



USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, after testing the resistance area, the pair has formed several reversal patterns, for example, Shooting Star. At the moment, USDCHF may reverse in the form of a new correctional wave towards the support level. In this case, the downside target may be at 0.9265. Still, there might be an alternative scenario, according to which the asset may grow to reach 0.9365 and continue its ascending tendency without any significant corrections.



Source: Roboforex

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