USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, there was a gap this morning, which was followed by a Harami pattern. Right now, USDCAD is reversing; the downside target is at 1.3530. The current situation implies that after testing the support level the price may resume growing towards 1.3830. At the same time, one shouldn’t exclude an opposite scenario, according to which the instrument may beak 1.3530 and then continue falling.
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, the pair continues the descending tendency. After completing a Shooting Star reversal pattern near the channel’s upside border, AUDUSD has reversed. At the moment, there are two possible scenarios. The first one implies that AUDUSD may continue falling towards the channel’s downside border at 0.6450. The other scenario suggests that the instrument may return to 0.6680. The current situation implies that the first scenario is more probable.
USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, the descending tendency continues. By now, USDCHF has formed a Hammer reversal pattern close to the support level. The current situation suggests that the pair may reverse, form a slight correction, and then continue the descending tendency with the target at 0.9100. However, one shouldn’t ignore another scenario, according to which the instrument may return to 0.9530.
