EUR USD, “Euro vs. US Dollar”
As we can see at the H4 chart, after some significant decline, the EUR/USD has started forming the horizontal channel with Shooting Star, Doji, Harami, and Engulfing reversal patterns at support and resistance levels to define its borders. Right now, the price is testing the resistance level and forming Hanging Man and Shooting Star patterns. The downside target is the support level at 1.1585.
USD CAD, “US Dollar vs Canadian Dollar”
At the H4 chart, the USD/CAD pair is still forming the descending channel with Engulfing, Shooting Star, Harami, Hammer, and Doji reversal patterns to define its borders. The price has broken 1.2667 and may fall to reach its next downside target at 1.2624.
RoboForex Analytical Department