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USDCAD, “US Dollar vs Canadian Dollar”
downside border, where Hammer pattern was formed earlier. Of course, there may be a reverse, which may be followed by a further growth towards 1.3550 to continue the ascending tendency. However, we shouldn’t ignore a possibility that the instrument may break the support level and resume its decline to reach 1.3370.
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, the pair is forming an ascending channel. Right now, AUDUSD is testing its upside border, where Shooting Star pattern was formed earlier. Judging by the previous movements, at the moment it may be assumed that the instrument may reverse and move towards the support level at 0.6922. However, we shouldn’t ignore a possibility that the instrument may break the resistance level and resume its growth to reach 0.7040.
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.
