USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, USDCAD continues forming reversal patterns close to the rising channel’s downside border. Right now, the pair is reversing after forming Hammer pattern. At the moment, it may be assumed that the price may complete a slight correction and resume growing towards 1.3333. However, we shouldn’t ignore a possibility that the instrument may fall and return to 1.3200.
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, after forming several reversal patterns, including Shooting Star, close to the resistance level, AUDUSD has completed Hanging Man reversal pattern during the pullback; right now, it is reversing. Judging by the previous movements, we may assume that the price may finish the correction and then continue trading downwards to reach 0.6707. However, we shouldn’t ignore a possibility that the instrument may resume growing towards 0.6865.
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.