Article By RoboForex.com
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, after forming several reversal patterns close to the resistance level, such as Harami, USDCAD may reverse in the form of a new descending impulse. In this case, the downside target may be at 1.2830. Later, the market may break this level and continue falling. However, an alternative scenario implies that the asset may correct to reach 1.2950 and continue the downtrend only after the pullback.
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, AUDUSD has formed an Engulfing reversal pattern near the support area. At the moment, the asset is reversing in the form a new rising impulse. In this case, the upside target may be the resistance level at 0.7090. After testing the level, the price may break it and resume the ascending tendency. At the same time, the opposite scenario implies that the price may correct to reach the channel’s downside border at 0.6985 and continue the uptrend only after the pullback.
Free Reports:
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.
Download Our Metatrader 4 Indicators – Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, after testing the resistance area, the pair has formed a Doji reversal pattern. At the moment, USDCHF may reverse in the form of a new descending impulse. In this case, the downside target may be at 0.9370. After testing the support level, the price may break it and continue trading downwards. Still, there might be an alternative scenario, in which the asset may correct to reach 0.9510 and continue the descending tendency only after the pullback.
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.
- GBP/USD Starts the Week on a Strong Footing Aug 10, 2026
- The US stock indices finished the session with solid gains following the release of weak labor‑market data Aug 10, 2026
- COT Metals Charts: Speculator Bets led by Gold, Copper & Platinum Aug 9, 2026
- COT Bonds Charts: Speculator Bets led by 2-Year Bonds & US Treasury Bonds Aug 9, 2026
- COT Energy Charts: Speculator Bets led by Heating Oil & Bloomberg Index Aug 9, 2026
- COT Soft Commodities Charts: Speculator Bets led by Sugar & Cotton Aug 9, 2026
- The Central Bank of Mexico kept its interest rate unchanged. Iran plans to introduce strict bans for US and Israeli vessels in the Strait of Hormuz Aug 7, 2026
- USD/JPY Holds Firm: Yen Loses Some Support Aug 7, 2026
- Australian trade balance returned to positive territory Aug 6, 2026
- Results in Line for Most Reporting Companies Aug 5, 2026
