USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, USDCAD has formed several reversal patterns, including Engulfing, close to the horizontal resistance level within the rising channel. Right now, the pair is reversing and may continue falling towards 1.3235 after finishing the correction. However, we shouldn’t ignore another scenario, according to which the instrument may grow to reach 1.3370.
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, after finishing the pullback towards the support level, AUDUSD has formed several reversal patterns, including Hammer. Right now, AUDUSD is reversing and trying to continue its growth. Judging by the previous movements, we may assume that the price may finish another correction and then continue trading upwards to reach 0.6825. However, we shouldn’t ignore a possibility that the instrument may resume falling towards 0.6670.
