Japanese Candlesticks Analysis 23.09.2020 (USDCAD, AUDUSD, USDCHF)

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, the rising tendency continues. By now, after testing the resistance area and forming several reversal patterns, such as Shooting Star, USDCAD has failed to reverse, at the moment, it is still growing to reach resistance level. In this case, the upside target may be at 1.3410. However, an alternative scenario implies that the instrument may fall and correct towards 1.3270.

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, the downtrend continues. Right now, after breaking the support area, the pair is expected to continue falling towards the next support at 0.7075. Later, the price may test this level, rebound from it, and start a new pullback. At the same time, the opposite scenario says that the asset may continue trading upwards to reach 0.7215.

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, the descending tendency continues. By now, after forming a Harami pattern not far from the resistance level, USDCHF has failed to reverse. After finishing a slight correction, the pair continues growing towards the next resistance level. In this case, the upside target may be at 0.9250. Still, there might be an alternative scenario, according to which the asset may return to 0.9160 before resuming the downtrend.