Article By RoboForex.com
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, USDCAD is still rebounding from the support level and reversing after completing a Harami reversal pattern. At the moment, the pair is moving below the resistance level. However, considering the current downtrend, one may assume that the asset may finish the correction and test 1.3700. Still, an opposite scenario suggests that the instrument may fall to reach 1.3400
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, AUDUSD is still correcting within the uptrend. By now, it has formed a Hammer pattern not far from the channel’s downside border. The target of the reversal pattern is the closest resistance level. Later, the price may resume the rising tendency. In this case, the mid-term upside target remains at 0.7070. At the same time, one shouldn’t exclude another scenario, which implies that the instrument may continue falling towards 0.6780.
USDCHF, “US Dollar vs Swiss Franc”
Free Reports:
Get Our Free Metatrader 4 Indicators - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
As we can see in the H4 chart, after forming a Hammer pattern and reversing, USDCHF has rebounded from the support level. At the moment, the pair continues forming the rising impulse. In this case, the upside target is the resistance area at 0.9520. Later, the market may rebound from this level and resume trading downwards. In this case, the downside target may be the support level at 0.9385.
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.
