Article By RoboForex.com
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, the asset continues growing. After forming several reversal patterns, such as Hammer and Inverted Hammer, close to the support level, USDCAD is reversing and resume growing towards the resistance area at 1.2775. However, an alternative scenario implies that the asset may correct to reach 1.2660 before resuming its growth.
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, AUDUSD continues falling within the descending channel; by now, it has formed a Harami reversal pattern during the pullback. At the moment, the asset is reversing. In this case, the downside target may be at 0.7155. At the same time, an opposite scenario implies that the price may correct to reach the resistance level at 0.7240 and before continuing its descending tendency.
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.
Sign Up for Our Stock Market Newsletter – Get updated on News, Charts & Rankings of Public Companies when you join our Stocks Newsletter
USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, the uptrend continues. By now, the pair has formed several reversal patterns, for example, Doji and Hammer, close to the channel’s downside border. At the moment, USDCHF may reverse and grow towards the resistance level. In this case, the upside target may be at 0.9255. Still, there might be an alternative scenario, according to which the asset may correct towards 0.9161 first and then resume trading upwards.
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.
- COT Bonds Charts: Large Speculator bets led by 2-Year & Ultra Treasury Bonds Nov 17, 2024
- COT Soft Commodities Charts: Large Speculator bets led by Corn & Soybean Oil Nov 16, 2024
- COT Stock Market Charts: Speculator Bets led by MSCI EAFE & VIX Nov 16, 2024
- The Dollar Index strengthened on Powell’s comments. The Bank of Mexico cut the rate to 10.25% Nov 15, 2024
- EURUSD Faces Decline as Fed Signals Firm Stance Nov 15, 2024
- Gold Falls for the Fifth Consecutive Trading Session Nov 14, 2024
- Profit-taking is observed on stock indices. The data on wages in Australia haven’t met expectations Nov 13, 2024
- USD/JPY at a Three-Month Peak: No One Opposes the US Dollar Nov 13, 2024
- Can Chinese Tech earnings offer relief for Chinese stock indexes? Nov 13, 2024
- Bitcoin hits an all-time high above $88,000. Oil remains under pressure Nov 12, 2024
