Article By RoboForex.com
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, after forming several reversal patterns, including Hanging Man, close to the resistance level, USDCAD is reversing in the form of a new decline. In this case, the downside target may be the support area at 1.2495. However, an alternative scenario implies that the asset may continue growing to reach 1.2605 without testing the support area.
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, AUDUSD has formed several reversal patterns, such as Inverted Hammer, near the support level. At the moment, the asset is reversing in the form of a new correctional wave. In this case, the target may be the resistance area at 0.7385. At the same time, an opposite scenario implies that the price may continue falling to reach 0.7270 without testing the channel’s upside border.
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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 in the form of a new correctional wave towards the support level. In this case, the downside target may be at 0.9165. Still, there might be an alternative scenario, according to which the asset may continue growing to reach 0.9250 without testing the support level.
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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