USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, USDCAD has formed Harami reversal pattern while testing the channel’s downside border. Right now, the pair is trying to reverse. At the moment, it may be assumed that the price may rebound from the level and go back to 1.3380. However, we shouldn’t ignore a possibility that the instrument may rebound from the support line at 1.3333 and continue its decline to reach 1.3250.
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, the pair has broken the descending channel. Right now, AUDUSD is forming Harami pattern close to the support level; the price is moving sideways and may start a new rising tendency. Judging by the previous movements, we may assume that the price is going to rebound from this level and grow towards 0.6868 to start forming the ascending channel. However, we shouldn’t ignore a possibility that the instrument may continue falling to reach 0.6700.
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.