Article By RoboForex.com
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, the rising tendency continues. By now, after testing the resistance area and forming several reversal patterns, such as Harami, USDCAD has reversed to form a slight correction. The upside target may be at 1.3430. However, an alternative scenario implies that the instrument may fall and correct towards 1.3345.
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, the correction within the downtrend continues. Right now, after forming a Hammer pattern, AUDUSD is reversing. The next upside target may be at 0.7117. Later, the price may test this level and resume trading downwards. In this case, the downside target may be at 0.7000.
Free Reports:
Download Our Metatrader 4 Indicators – Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, the pair is finishing the correction within the ascending tendency. By now, after forming several reversal patterns, such as Doji, not far from the support level, USDCHF is expected to reverse and continue growing. In this case, the upside target may be at 0.9315. Still, there might be an alternative scenario, according to which the asset may correct towards 0.9200 before resuming the downtrend.
Article By RoboForex.com
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
- China continued to stimulate the economy. SNB cut the rate by 0.25% and plans further cuts Sep 27, 2024
- SNB will cut rates today. China plans to inject an additional 1 trillion yuan into the economy Sep 26, 2024
- Long Live the Fed Sep 25, 2024
- USD/JPY Stabilises Amid Bank of Japan’s Cautious Signals Sep 25, 2024
- Chinese indices rise on PBoC stimulus. In Australia, inflationary pressures are easing Sep 25, 2024
- Markets rally on China stimulus cheer Sep 24, 2024
- AUD/USD Reaches Yearly High Amid Positive Stimulus News from China Sep 24, 2024
- China announced a broad stimulus for the economy. The RBA kept the rate at 4.35% Sep 24, 2024
- Gold Reaches New Record as Investors Eye Further Rate Cuts Sep 23, 2024
- Bitcoin has reached the $64000 mark. Oil rises amid escalating conflict in the Middle East Sep 23, 2024