AUD USD, “Australian Dollar vs US Dollar”
At the H4 chart of AUD USD, the price has formed Inverted Hammer pattern and completed the correction. The correction within the downtrend has reached the resistance level; in addition to Harami, Shooting Star, and Engulfing patterns, the pair has formed one more Engulfing pattern on its way towards the support level at 0.7822.
USD/CAD, “US Dollar vs Canadian Dollar”
At the H4 chart of USD CAD, the uptrend continues. At the same time, during pullbacks the price is forming Harami reversal patterns. Engulfing, Doji, and Long-Legged Doji patterns indicate that the correction finished. Near the high, the pair formed Shooting Star pattern and completed another correction, after which the price formed Doji pattern at the support level and then the uptrend continued. The upside target is at the resistance level at 1.2748.
RoboForex Analytical Department