USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, the descending tendency continues. By now, USDCAD has formed a Hammer pattern not far from the support level. However, the price is not currently expected to reverse. Most likely, in the nearest future, the pair may correct for a while and then continue falling towards the support area at 1.3460.
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, after testing another resistance level, AUDUSD is still trading upwards. By now, it has formed a Shooting Star pattern. At the moment, the price is expected to reverse and correct towards 0.6802. In the future, the pair is expected to resume the rising tendency. in this case, the upside target may be at 0.7070.
USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, USDCHF has formed several reversal patterns, such as Engulfing, while trading not far from the support area. At the moment, the pair is expected to return to 0.9587b and rebound from it. In this case, the upside target may be at 0.9685.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is intended for our customers, and is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.