As we can see in the USD/CAD H4 chart, the ascending tendency continues. Right now, after finishing a “Hammer” pattern, USD/CAD is reversing and testing the resistance area. After a slight correction, the pair is expected to resume moving upwards with the target at 1.3410. However, an alternative scenario implies that the price may return to the support area at 1.3245 before resuming the uptrend.
As we can see in the H4 chart, AUD/USD continues forming the descending channel. Right now, after forming several reversal patterns, such as Hammer, the pair is reversing and correcting. In this case, the downside target may be the support area at 0.6965. At the same time, an opposite scenario says that the price may grow to test the resistance area at 0.7110 before resuming its decline.
As we can see in the USD/CHF H4 chart, the asset continues forming the ascending impulse. After forming several reversal patterns, such as “Harami”, not far from the horizontal resistance level, USD/CHF is expected to reverse and correct. In this case, the upside target may be the resistance area at 0.9225. Still, there might be an alternative scenario, according to which the asset may continue falling and return to the support level at 0.9085 before resuming its growth.
Disclaimer: Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.