Japanese Candlesticks Analysis 30.06.2020 (USDCAD, AUDUSD, USDCHF)

June 30, 2020

Article By RoboForex.com

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, USDCAD is still testing the resistance level. By now, the price has formed several reversal patterns, including Long-Legged Doji. However, considering the current downtrend, one may assume that the asset may reverse and resume falling. In this case, the downside target is at 1.3510. Still, an opposite scenario suggests that the instrument may continue growing to reach 1.3773.

USDCAD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”


Get our Weekly Commitment of Traders Report: - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.




Get Our Free Metatrader 4 Indicators - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter






As we can see in the H4 chart, AUDUSD is still correcting within the uptrend. By now, it has formed several; reversal patterns, including Hammer, not far from channel’s downside border. The target of the reversal pattern is the closest resistance level. Later, the price may resume a rising tendency. In this case, the mid-term upside target remains at 0.7070. At the same time, one shouldn’t exclude another scenario, which implies that the instrument may continue falling towards 0.6790.

AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, after forming a Hammer pattern and reversing, USDCHF has rebounded from the support level. At the moment, the pair continues forming the rising impulse. In this case, the upside target is at 0.9578. Later, the market may rebound from the resistance level and resume trading downwards. In this case, the downside target may be the support level at 0.9380.

USDCHF

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.