EUR USD, “Euro vs. US Dollar”
As we can see at the H4 chart, the EUR/USD is still moving downwards and forming Hammer, Shooting Star, Long-Legged Doji, Engulfing, and Harami reversal patterns at the borders of the descending channel. After being corrected towards the resistance level and forming Harami pattern, the price resumed falling. The downside target is at 1.1661.
USD CAD, “US Dollar vs Canadian Dollar”
The USD continues strengthening against the Canadian Dollar. At the H4 chart, the USD/CAD pair formed the ascending channel with Harami, Hammer, Doji, and Engulfing reversal patterns at support and resistance levels to define its borders. The par failed to reach the resistance level at 1.2552 during the previous trading session; it stopped at 1.2525, formed Engulfing, Doji, Stick Sandwich, and two Hanging Man patterns, and then was corrected towards the support level at 1.2455. Right now, the upside target is still at 1.2552.
RoboForex Analytical Department