rfxsignals May 31, 2021 No Comments

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, the sideways tendency continues. After forming several reversal patterns, including Hammer, close to the support area, USDCAD may reverse and start a new growth towards 1.2155. After testing this level, the price may rebound and resume its descending tendency. However, an alternative scenario implies that the asset may fall to reach the support area at 1.2035 without reversing and correcting.

USDCAD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, AUDUSD has formed several reversal patterns, such as Harami, not far from the support level. At the moment, the asset is reversing in favor of the ascending tendency. In this case, the upside target may be the resistance area at 0.7790. At the same time, an opposite scenario implies that the price may fall towards the support level at 0.7680, rebound from it, and then resume trading upwards.

AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, the asset is still testing the resistance area, where it has formed a Harami reversal pattern. At the moment, USDCHF may reverse and start a new pullback. In this case, the correctional target may be the support level at 0.8976. Still, there might be an alternative scenario, according to which the asset may grow to reach 0.9055 without reversing and correcting.

USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future