USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, after forming several reversal patterns, including Engulfing, close to the support level, USDCAD may reverse and resume trading upwards. In this case, the upside target may be the resistance area at 1.2900. However, an alternative scenario implies that the asset may correct to reach 1.2760 before resuming its ascending tendency.
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, AUDUSD has formed a Harami reversal pattern near the resistance area. At the moment, the asset is reversing in the form of another pullback. In this case, the downside correctional target may be the support level at 0.7210. At the same time, an opposite scenario implies that the price may grow to reach 0.7325 and continue its ascending tendency without testing the support level.
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USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, after testing the support area, the pair has formed several reversal patterns, for example, Hammer. At the moment, USDCHF may reverse in the form of a new rising wave towards the resistance level. In this case, the upside target may be at 0.9215. Still, there might be an alternative scenario, according to which the asset may continue falling to reach 0.9130 before resuming 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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