Japanese Candlesticks Analysis 14.12.2021 (USDCAD, AUDUSD, USDCHF)

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, after forming several reversal patterns, including Shooting Star, close to the resistance level, USDCAD may reverse in the form of another correctional wave. In this case, the downside correctional target may be the support area at 1.2755. However, an alternative scenario implies that the asset may continue growing to reach 1.2900 without correcting towards the support area.

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, AUDUSD has formed several reversal patterns, such as Hammer, near the support area. At the moment, the asset may reverse in the form of another correctional impulse. In this case, the upside correctional target may be the resistance level at 0.7155. At the same time, an opposite scenario implies that the price may continue falling to reach 0.7010 without forming the above-mentioned correctional impulse.

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, after testing the support area again, the pair has formed several reversal patterns, for example, Inverted Hammer. At the moment, USDCHF is reversing in the form of a new rising wave towards the resistance level. In this case, the upside target may be at 0.9290. Still, there might be an alternative scenario, according to which the asset may continue falling to reach 0.9195 before resuming its ascending tendency.