Article By RoboForex.com
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, after forming several reversal patterns, including Hammer, close to the support level, USDCAD may reverse in the form of a new correctional impulse. In this case, the correctional target may be the resistance area at 1.2445. However, an alternative scenario implies that the asset may continue falling to reach 1.2300 without reversing and correcting.
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, AUDUSD has formed several reversal patterns, such as Shooting Star, while testing the resistance level. At the moment, the asset may reverse and start a new pullback. In this case, the correctional target may be at 0.7373. At the same time, an opposite scenario implies that the price may continue growing towards 0.7465 without any corrections.
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USDCHF
As we can see in the H4 chart, after testing the rising channel’s downside border, the pair has formed several reversal patterns, for example, Hammer. At the moment, USDCHF is reversing and may later start a new growth towards the resistance level. In this case, the upside target may be at 0.9284. Still, there might be an alternative scenario, according to which the asset may return to 0.9200 first and then resume its ascending tendency.
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.
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