Day: July 4, 2023

EURUSD, “Euro vs US Dollar” EURUSD is testing the upper border of the descending channel. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower border of the Cloud at 1.0915 is expected, followed by a decline to 1.0715. An additional signal confirming the decline will be a […]

USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed a Hammer reversal pattern on H4. Currently, the instrument is going by the reversal pattern in an ascending wave. The correction target could be 1.3350. Next, the price might rebound from this level and continue the downtrend. However, the quotes could drop to 1.3175 without any […]

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TitleUSDCAD H4 | Potential bearish reversal TypeBearish Reversal Preference:Price is rising towards the pivot point of 1.3283 and could potentially reverse from here; we could see momentum carry price down to its 1st support of 1.32174. Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance of 1.33325.  To discuss this […]