USD CAD, “US Dollar vs Canadian Dollar”
At the H4 chart, the USD/CAD pair formed the ascending channel with Hammer, Doji, Engulfing, and Shooting Star reversal patterns at support and resistance levels to define its borders. After falling a little bit, the price moved to the upside and tested the resistance level at 1.2586. Later, the instrument Shooting Star and several Engulfing patterns and right now is still falling towards the support level at 1.2442.
XAU USD, “Gold vs US Dollar”
At the H4 chart, the instrument formed the ascending channel with Engulfing and Shooting Star patterns to define its borders. Later, the price tested the resistance level at 1305.00 and started falling. At the moment, the pair is being corrected again and forming Long-Legged Doji pattern. The downside target is the support level at 1268.43.
RoboForex Analytical Department
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.