USDCAD, “US Dollar vs Canadian Dollar”
USDCAD has formed a Shooting Star reversal pattern on H4. Currently, the instrument might go by the reversal signal in a descending wave. The decline target could be 1.3185. Next, the price has a chance to break the support and continue the downtrend. However, the quotes could pull back to 1.3170 before the decline.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has formed a Shooting Star reversal pattern on H4. Currently, the instrument is going by the reversal signal in a descending wave. The decline target could be 0.6760. Upon testing the support, the quotes might break it, and the downtrend might become stronger. However, the price could still correct to 0.6860 before falling.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF has formed an Inverted Hammer reversal pattern near the support level on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could be 0.8670. Upon testing the resistance, the price has a chance to rebound from it and continue developing the downtrend. However, the price could drop to 0.8500 without any correction.
