USDCAD, “US Dollar vs Canadian Dollar”
On H4, USDCAD has formed several reversal patterns at the resistance line, including a Hanging Man. Currently, going by the patterns, the quotations might decline to the support level of 1.2455. Upon testing the support level, the quotations might keep developing the downtrend. However, the price might still return to the resistance level of 1.2600 before resuming the downtrend.
AUDUSD, “Australian Dollar vs US Dollar”
On H4, the pair is pulling back, and at the resistance level, it has formed several reversal patterns, including a Harami. At the current stage, going by the patterns, the quotations might go on declining. The aim of the decline is the support level of 0.7545. However, the price might still pull back to the resistance level of 0.7685 before returning to the downtrend again.
USDCHF, “US Dollar vs Swiss Franc”
On H4, the pair keeps correcting, developing an uptrend. At the support level, the pair has formed several reversal patterns, including a Harami, and currently, the quotations might go by them growing. The aim for the uptrend is the resistance level of 0.9515. However, the correction might continue to 0.9295 skipping the patterns.
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.