USD CAD, “US Dollar vs Canadian Dollar”
As we can see at the H4 chart, the USD/CAD pair is trading inside the “overbought zone” above the 8/8 level at 1.2695. Earlier, the price already broke this level, but failed to continue moving downwards. At the moment, the instrument is expected to break the 8/8 level once again and resume falling to reach the 5/8 one at 1.2329.
At the H1 chart, the pair may test the 3/8 level at 1.2786, rebound from it, and then move downwards to reach 1.2329.
At the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue falling towards 1.2329.
USD JPY, “US Dollar vs. Japanese Yen”
At the H4 chart, the USD/JPY pair is expected to test the 0/8 level at 112.50, rebound from it, and then resume growing towards the 3/8 one at 114.84.
As we can see at the H1 chart, the pair is trading inside the “oversold area” below the 0/8 level (113.28). After breaking it, the price may start moving upwards to reach the main target from the H4 chart at 114.84. In this case, the instrument is very unlikely to test 112.50.
At the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, may continue growing to reach 114.84.
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.