By RoboForex.com
USDCAD, “US Dollar vs Canadian Dollar”
On H4, the pair formed an Engulfing-reversal pattern. The instrument is now following the pattern in a decreasing wave. The price target for the decline could be 1.3300. After that, the price might break through the support level to continue the downtrend. The price may fall to 1.3430 but then pull back.
AUDUSD, “Australian Dollar vs US Dollar”
On H4, the pair formed a Hammer-reversal pattern. Now, the instrument is following an ascending wave signal. The goal of growth could be 0.7070. The resistance level might be broken and the price may continue to grow. However, after correcting the correction, the price could pull back towards 0.6925 to continue its uptrend.
USDCHF, “US Dollar vs Swiss Franc”
The pair formed a Hanging Man reverse pattern on H4 at the resistance level. The signal is now being followed by the instrument in a downward wave. The target of the fall might be 0.9155. The support level might be broken and the downtrend could continue. However, the price might pull back to 0.92250 before falling.
Article by RoboForex.com
Attention!
This section does not include forecasts.
