USD CAD, “US Dollar vs Canadian Dollar”
As we can see at the H4 chart, the USD/CAD pair is trading near the 6/8 level (1.2817). If the price closes the candlestick below this level, the instrument may continue falling towards the 5/8 one (1.2756).
At the H1 chart, the situation is the same and confirms the above-described scenario. Right now, the pair is trading at the resistance at the 8/8 level at (1.2817). Later, the price is expected to fall towards the 5/8 level (1.2771), break it, and then continue moving downwards to reach the 4/8 one (1.2756).
USD JPY, “US Dollar vs. Japanese Yen”
As we can see at the H4 chart, the USD/JPY pair has reached the resistance at the 3/8 level (111.71) and may rebound from it to resume falling towards the 1/8 one (110.15). However, if the price rebounds from the 3/8 level, the pair won’t continue growing very fast. In this case, the instrument is expected to test the 4/8 level (112.50), rebound from it, and then resume falling towards the 1/8 one.
At the H1 chart, the pair is expected to test the 2/8 level (111.71), rebound from it, and then fall towards the 0/8 one (110.93). If this support is broken, the instrument will continue moving downwards to reach 110.15.
At the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue falling towards 110.15.
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.