USD CAD, “US Dollar vs Canadian Dollar”
At the H4 chart, the USD/CAD pair formed the horizontal channel with Hammer, Hanging Man, Engulfing, and Shooting Star reversal patterns at support and resistance levels to define its borders. After that, the price broke the channel and moved to the upside to reach 1.2650. Despite Stick Sandwich and Shooting Star patterns, the instrument continues growing below the resistance level. The next target is at 1.2650.
XAU USD, “Gold vs US Dollar”
At the H4 chart, the instrument formed the ascending channel with Engulfing and Shooting Star patterns to define its borders. Later, the price tested the resistance level at 1305.00 and started falling. After that, the pair is forming a new descending channel with Shooting Star, Engulfing, Doji, and Long-Legged Doji reversal patterns to define it borders. The downside target is still the support level at 1268.43.
RoboForex Analytical Department