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USD CAD, “US Dollar vs Canadian Dollar”
The Canadian Dollar continues strengthening against the USD. As we can see at the H4 chart, after forming Hanging Man, Shooting Star, Engulfing, and Doji patterns, the pair reached the support level. The price rebounded from it and formed another Shooting Star pattern. The closest downside target is at 1.24444; the next one is at 1.24131.
NZD USD, “New Zealand Dollar vs. US Dollar”
As we can see at the H4 chart of NZD USD, the price is still falling and forming Engulfing, Shooting Star, and Long-Legged Doji reversal patterns during pullbacks. After breaking the support level, the pair formed another correction with Shooting Star pattern at the top of it. If the price continues falling, the instrument will break the support level and reach a new low.
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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.