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USD CAD, “US Dollar vs Canadian Dollar”
As we can see at the H4 chart, the USD/CAD pair has left the consolidation channel formed by the 3/8 and 5/8 levels. Later, the price is expected to test the 3/8 level at 1.2573 and then continue falling towards the 0/8 one at 1.2207. If the pair breaks the 3/8 levels, the instrument may resume growing to reach the next target at the 5/8 one at 1.2817.
At the H1 chart, the pair is expected to reach the 4/8 level at 1.2573. If the price rebounds from this level, the instrument may resume falling towards 1.2207. Otherwise, it may continue growing to reach 1.2817.
XAU USD, “Gold vs US Dollar”
As we can see at the H4 chart, the XAU/USD pair has broken the 8/8 level at 1312.50, just as expected. Later, the price may fall towards the 5/8 level at 1265.63.
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At the H1 chart, the price has also broken the 8/8 level at 1312.50 and confirms the H4 chart scenario.
As we can see at the M15 chart, the price has broken the downside line of the VoltyChannel indicator and, as a result, may continue moving downwards.
RoboForex Analytical Department
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.