USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, USDCAD is rebounding from the resistance level once again. By now, after completing the correction, the price has formed a Harami pattern. Considering the current downtrend, one may assume that the asset may continue falling. In this case, the downside target is at 1.3490. Still, an opposite scenario suggests that the instrument may continue growing to return to the resistance area at 1.3685.
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, the uptrend continues. By now, AUDUSD has formed several reversal patterns, including Hammer, not far from channel’s downside border; at the moment, the pair is reversing. The upside target is the closest resistance level. Later, the price may continue the rising tendency. In this case, the upside target remains at 0.7070. At the same time, one shouldn’t exclude another scenario, which implies that the instrument may continue falling and return to 0.6900.
USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, after testing the support area and forming an Engulfing pattern, USDCHF has reversed. Taking into account the current descending tendency, the pair may continue trading downwards to reach the next support level. The downside target is at 0.9354. Later, the market may test the level and continue falling.
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.