Article By RoboForex.com
EUR USD, “Euro vs. US Dollar”
At the H4 chart, the EUR/USD is still forming the descending channel with Shooting Star, Doji, Harami, and Engulfing reversal patterns at support and resistance levels to define its borders. After finishing another correction with Shooting Star and Doji patterns, the price resumed falling, reached the support level, and the started a new correction with Engulfing and Shooting Star patterns. The downside target is at 1.1555.
XAU USD, “Gold vs US Dollar”
At the H4 chart, the instrument is forming a new descending channel with Shooting Star, Engulfing, Doji, and Hammer reversal patterns to define it borders. The instrument was corrected towards the resistance level at 1281.45 with Harami and Long-Legged Doji patterns and then fell to reach the support one at 1265.70. Right now, the instrument is being corrected again and has already reached the resistance level at 1282.00. The downside target is still at 1265.70.
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