USD CAD, “US Dollar vs Canadian Dollar”
At the H4 chart, the USD/CAD pair formed the ascending channel with Hammer, Doji, Engulfing, and Shooting Star reversal patterns at support and resistance levels to define its borders. By now, the price has broken the downside border and at the moment is moving towards the support level at 1.2427. Later, the instrument is expected to break it and continue falling.
XAU USD, “Gold vs US Dollar”
At the H4 chart, the instrument completed its descending movement and started forming the ascending channel with Engulfing, Shooting Star, and Inverted Hammer patterns at the support and resistance level to define its borders. The upside target is the resistance level at 1311.37.
RoboForex Analytical Department
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.