[IFX Tatyana]

Support levels: 1.0300, 1.0250, 1.0200
Resistance levels: 1.0500, 1.0586, 1.0650
On a 4-hour chart, the USD/CAD currency pair is pulling back further from the upper limit of the downward channel, and now, it is forming “Flag” probably. It is expected that breakout of 1.0300 will cause a drop to 1.0250.
However, if 1.0400 is breached, the intraday view will become neutral. If the ascendant motion keeps on, a breach of the resistance level of 1.0500 will aim USD/CAD at 1.0586.
In mid-term outlook, USD/CAD has seemly shaped a bottom at the mark of 0.9930. In addition, taking into account bullish divergence in daily and weekly MACD, the view of the pair remains bullish amid the reversal of the downtrend from 1.3063. It is awaited that USD/CAD will move upwards to Fibonacci correction level of 38.2 from 1.3063 to 0.9929 on 1.1126 with the next target at Fibonacci correction level of 61.8 to 1.1866.


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[IFX Tatyana]

On a 4-hour graph the USD/JPY currency pair’s movement was limited by the support level 82.00. In general the pair is descending after it could not break the Fibonacci correction level 61.8.
As mentioned before, if the support level 80.93 is broken, long positions should be closed as a break of this level will cause the pair to decrease to 80.20.
Earlier on a 4-hour graph the USD/JPY pair has formed Hammer candlestick, indicating upside movement. This candlestick shows that the currency pair was decreasing for several days, but rebounded near 80.93.
This viewpoint is supported by the fact the pair has successfully broken the 23.6 Fibonacci correction level. Breakout of the resistance level 82.85 has targeted the pair to 84.50.

[IFX Tatyana]

The EUR/USD currency pair has found a strong resistance level near 1.3720-1.3740, to roll back further.
Earlier on a 4-hour graph the EUR/USD has formed candlestick combination Falling Three Methods, indicating downside movement.
This candlestick combination shows that the currency pair had been demonstrating upside movement for several weeks. However, near the resistance level 1.3852 (3-month high) the bears started to increase their influence and a rebound took place.
Downside movement is supported by the MACD divergence and Evening Star and Bearish Engulfing candlestick combinations on the day graph.
Break of the support level 1.3538 proves this viewpoint. Now we should expect a downside movement to the support level 1.3227, where Fibonacci correction level 61.8 is also located.
If the resistance level 1.3853 is broken, short positions should be closed as it will lead to an advance to 1.4000.

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