Article By RoboForex.com
USD CAD, “US Dollar vs Canadian Dollar”
At the H4 chart of USD CAD, the stable downtrend continues. The pair is falling and forming Hanging Man, Shooting Star, Engulfing, and Doji patterns during pullbacks. After finishing another correction, the pair formed Shooting Star and Engulfing patterns at the top, and, as a result, fell and broke the support level. Right now, the instrument is about to complete another correction before starting a new decline. The downside target is at 1.2222.
NZD USD, “New Zealand Dollar vs. US Dollar”
As we can see at the H4 chart of NZD USD, the price was falling and forming Engulfing, Shooting Star, and Long-Legged Doji reversal patterns during pullbacks, but then stopped at the support level. Right now, the pair is being corrected once again and forming Engulfing and Hanging Man patterns at the top, which means that the instrument may start a new decline and break the support level. The downside target is at 0.7123.
RoboForex Analytical Department
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Article By RoboForex.com
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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.
