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, moved to the upside to reach 1.2650, formed another correction, and then resumed growing. Right now, the pair is being corrected again with Harami and Doji patterns. In the future, the instrument is expected to continue moving upwards with the closest target at 1.2873.
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 instrument completed another correction towards 1281.45 with Engulfing pattern. The downside target is still at 1268.43.
RoboForex Analytical Department