USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, after rebounding from the rising channel’s downside border, USDCAD has formed several reversal patterns. Right now, the pair is trying to reverse after forming Harami pattern. At the moment, it may be assumed that the price may complete a slight correction and resume growing towards 1.3333. However, we shouldn’t ignore a possibility that the instrument may return to the support line and update the low.
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, AUDUSD has formed several reversal patterns, including Shooting Star, close to the resistance level. Right now, the pair is trying to reverse. Judging by the previous movements, we may assume that the price may finish a slight pullback and then continue trading downwards to reach 0.6792. However, we shouldn’t ignore a possibility that the instrument may resume growing towards 0.6900.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.