USD CAD, “US Dollar vs Canadian Dollar”
The Canadian Dollar continues strengthening against the USD. As we can see at the H4 chart, after forming Hanging Man, Shooting Star, Engulfing, and Doji patterns, the pair reached the support level. However, the price failed to break the level on the first try and started another correction. After breaking the support level, the instrument may move downwards to reach the target at 1.24444.
EUR JPY, “Euro vs. Japanese Yen”
The fast growth led the pair towards the resistance level at the daily chart as the price started to form a new descending channel. As we can see at the H4 chart, after forming several Engulfing patterns, the price also reached the resistance level and formed Shooting Star pattern. The instrument may continue falling much deeper; the closest target is the support level at 129.50.
RoboForex Analytical Department