Japanese Candlesticks Analysis 25.05.2022 (USDCAD, AUDUSD, USDCHF)

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, after forming reversal patterns, such as Hammer, close to the support level, USDCAD may reverse in the form of another ascending impulse. In this case, the upside target may be at 1.2950. However, an alternative scenario implies that the asset may fall to rebound from the support level at 1.2765 first and then resume the ascending tendency.

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, AUDUSD has formed a Harami reversal pattern near the support area. At the moment, the asset may reverse and start a new ascending impulse. In this case, the upside target may be the resistance level at 0.7185. After testing the level, the price may break it and continue the ascending tendency. At the same time, an opposite scenario implies that the price may fall to reach 0.7030 before resuming the uptrend.

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, after testing the support area, the pair has formed a Hammer reversal pattern. At the moment, USDCHF may reverse in the form of a new rising impulse. In this case, the upside target may be at 0.9690. After testing the resistance level, the price may rebound from it and resume trading downwards. Still, there might be an alternative scenario, according to which the asset may continue falling to reach 0.9535 without any corrections towards the resistance level.