XAU USD, “Gold vs US Dollar”
As we can see at the H4 chart, the instrument continues forming the descending channel with Engulfing, Shooting Star, Doji, Inverted Hammer, Long-Legged Doji, and Harami reversal patterns at the support and resistance level to define its borders. By now, the price has been corrected towards the resistance level and formed Engulfing pattern. The downside target is close to the channel’s bottom.
USD CAD, “US Dollar vs Canadian Dollar”
At the H4 chart, the USD/CAD pair is still forming the ascending channel with Harami, Hammer, Doji, Engulfing, and Hanging Man reversal patterns at support and resistance levels to define its borders. By now, the price has broken the resistance level at 1.2552 and completed the correction to return to the support one. The upside target is the next resistance level at 1.2621.
