Japanese Candlesticks Analysis 27.04.2021 (USDCAD, AUDUSD, USDCHF)

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, after forming several reversal patterns, including Harami, close to the support level, USDCAD may reverse and start a new pullback towards the resistance area at 1.2430. After testing the area, the price may rebound and resume its descending tendency. However, an alternative scenario implies a further downtrend to reach the support level at 1.2340 and continue the descending tendency.

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, AUDUSD has formed several reversal patterns, such as Doji, not far from the resistance area. At the moment, the asset may reverse and start another pullback. In this case, the correctional target may be the support area at 0.7760. At the same time, an opposite scenario implies that the price may grow towards the resistance level at 0.7850 and continue its ascending tendency without any corrections.

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, the asset is still correcting within the downtrend. At the moment, after forming several reversal patterns, such as Engulfing, not far from the support area, USDCHF is reversing and forming a new pullback. In this case, the correctional target may be the resistance level at 0.9210. Still, there might be an alternative scenario, according to which the asset may fall to reach 0.9100 without reversing and correcting.