Japanese Candlesticks Analysis 30.03.2020 (USDCAD, AUDUSD, USDCHF)

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, after updating its highs, USDCAD is still trading downwards and seems to be forming a new descending channel. By now, it has formed a Hammer reversal pattern not far from the channel’s downside border. The current situation implies that after revering the pair may move to test 1.4343 and then resume falling. In this case, the downside target may be at 1.3796. Under the current circumstances, this scenario is more probable.

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, the pair continues the ascending tendency. After completing several Doji patterns near the resistance level, AUDUSD is reversing. Later, the price may form a slight correction and then resume trading upwards to reach 0.6325. Still, the instrument may choose a different scenario and continue falling towards 0.6041 or even 0.5745.

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, the pair continues falling. by now, USDCHF has formed a Doji pattern near the support level. The current situation suggests that after reversing the pair may start a slight pullback and then continue the descending tendency. in this case, the target may be at 0.9360. However, one shouldn’t ignore another scenario, according to which the instrument may grow and return to 0.9740.