USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, after forming a Harami reversal pattern close to the resistance level, USDCAD is reversing in the form a new descending impulse. In this case, the downside target may be at 1.2595. However, an alternative scenario implies that the asset may correct to rebound from the resistance level at 1.2736 and then resume the downtrend.
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, AUDUSD has formed an Engulfing reversal pattern near the support area. At the moment, the asset is reversing and starting a new rising impulse. In this case, the upside target may be the resistance level at 0.7530. After testing the level, the price may break it and continue the ascending impulse. At the same time, an opposite scenario implies that the price may correct to reach 0.7385 before resuming the uptrend.
USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, after testing the support area, the pair has formed several reversal patterns, such as Hammer. At the moment, USDCHF may reverse in the form of a new ascending impulse. In this case, the upside target may be at 0.9365. After testing the resistance level, the price may break it and continue trading upwards. Still, there might be an alternative scenario, according to which the asset may correct to reach 0.9280 first and then resume growing.
Source: Roboforex
