USDCAD, “US Dollar vs Canadian Dollar”
USDCAD has formed a Hammer reversal pattern on H4. Currently, the instrument could go by the reversal signal in an ascending wave. The correction target might be the 1.3445 level. Next, the price could rebound from this level and extend the downtrend. However, the quotes might drop to 1.3355 without any correction.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has formed a Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The correction target might be 0.6655. Upon testing the resistance level, the quotes could rebound from this level and continue developing the downtrend. However, the price might drop to 0.6540 without testing the resistance.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF has formed a Hammer reversal pattern on H4. Currently, the instrument could go by the reversal signal in an ascending wave. The correction target might be the 0.8655 level. Upon testing the resistance, the price could rebound from this level and continue developing the downtrend. However, the quote might drop to the 0.8565 level without any pullback to the resistance level.
