USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, USDCAD has tested the resistance level and formed Shooting Star reversal pattern. Right now, this reversal pattern may indicate a possible rebound from the channel’s upside border; in this case, the downside target will be at 1.3340. However, we shouldn’t ignore a possibility that the instrument may break the resistance level and continue its growth to reach 1.3519.
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, after forming Harami reversal pattern, AUDUSD is testing the support level. Judging by the previous movements, at the moment it may be assumed that the instrument may rebound and grow towards 0.6950. However, we shouldn’t ignore a possibility that the instrument may break the level and continue falling to reach 0.6827.
