USDCAD, “US Dollar vs Canadian Dollar”
On H4, the pair has formed an Engulfing reversal pattern. The instrument is now going by the pattern in a descending wave. The goal of the decline might be 1.3300; then the price may break through the support level and continue the downtrend. However, the price may pull back to 1.3430 before falling.
AUDUSD, “Australian Dollar vs US Dollar”
On H4, the pair has formed a Hammer reversal pattern. The instrument is now going by the signal in an ascending wave. The goal of the growth might be 0.7070. Upon testing the resistance level, the quotes might break through it and continue growing. However, the price may pull back to 0.6925 and continue the uptrend after the correction.
Free Reports:
Sign Up for Our Stock Market Newsletter – Get updated on News, Charts & Rankings of Public Companies when you join our Stocks 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”
On H4, at the resistance level, the pair has formed a Hanging Man reversal pattern. The instrument is now going by the signal in a descending wave. The goal of the decline might be 0.9155. Upon testing the support level, the pair might break through it and continue developing the downtrend. However, the price may pull back to 0.9250 before declining.
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.
- The Trump presidency will exacerbate international relations, especially concerning China and Europe Nov 7, 2024
- Gold Retreats as Trump Victory Bolsters USD Nov 7, 2024
- USDJPY Hits 14-Week High Amid US Election Dynamics Nov 6, 2024
- EURUSD Stabilises as US Presidential Election Unfolds Nov 5, 2024
- Stock indices rise on weak US labor market report. In Switzerland, there is a further decline in inflation Nov 4, 2024
- US Elections: How might markets react to Harris or Trump win? Nov 4, 2024
- Brent Crude Rises as OPEC+ Delays Production Increase Nov 4, 2024
- COT Metals Charts: Speculator bets led by Palladium & Steel Nov 3, 2024
- COT Bonds Charts: Speculator Bets led by Ultra Treasury Bonds & US Treasury Bonds Nov 3, 2024
- COT Soft Commodities Charts: Speculator Bets led by Corn & Live Cattle Nov 3, 2024