USDCAD, “US Dollar vs Canadian Dollar”
USDCAD has formed a Hammer reversal pattern on H4. Currently, the instrument could go by the reversal signal in an ascending wave. The correction target might be the 1.3420 level. Subsequently, the price could rebound and maintain downward momentum. However, the quotes might fall to 1.3325 without a correction.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has formed a Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The correction target might be 0.6650. After testing the resistance level, the quotes could rebound and continue their downward trajectory. However, the price might drop to 0.6550 without testing the resistance.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF has formed a Hammer reversal pattern on H4. Currently, the instrument could go by the reversal signal in an ascending wave. The correction target might be 0.8625. Upon testing the resistance level, the price could rebound and continue developing the downtrend. However, the quotes could decline to 0.8530 without pulling back to the resistance.
