USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, the asset continues growing. After forming several reversal patterns, including Inverted Hammer, close to the support level, USDCAD is reversing in the form of a new rising impulse. In this case, the upside target may be the resistance area at 1.2765. However, an alternative scenario implies that the asset may correct to reach 1.2560 before resuming its growth towards the resistance area.
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, AUDUSD has formed several reversal patterns, such as Hammer, while testing the support level. At the moment, the asset may reverse and resume trading upwards. In this case, the upside target may be at 0.7445. At the same time, an opposite scenario implies that the price may correct towards 0.7310 first and then resume growing.
USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, after testing the resistance area, the pair has formed several reversal patterns, for example, Shooting Star. At the moment, USDCHF is reversing and may later start a new pullback towards the support level. In this case, the downside target may be at 0.9185. Still, there might be an alternative scenario, according to which the asset may grow to reach 0.9260 and continue its ascending tendency without correcting towards the channel’s downside border.
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.