USDCAD, “US Dollar vs Canadian Dollar”
USDCAD has formed an Inverted Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The correction target could be 1.3545. Next, the price might rebound from this level and extend the downtrend. However, the quotes could drop to 1.3450 without testing the resistance line.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has formed an Engulfing reversal pattern on H4. Currently, the instrument might go by the reversal signal in an ascending wave. The correction target could be 0.6610. Upon testing the resistance, the quotes might rebound from this level and continue developing the downtrend. However, the quotes might drop to 0.6510 without any pullback.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF has formed a Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The correction target could be 0.8675. Upon testing the resistance, the price could rebound from this level and extend the downtrend. However, the price might drop to the 0.8560 level without testing the resistance.
