USDCAD Bearish Harami Hourly Chart
Resistance: 0.9957 strong/0.9978 moderate/1.0010 minor
Support: 0.9925 moderate/0.9904 minor/0.9872 minor
USDCAD has a bearish bias. Although we have a Bearish Harami confirming market direction proximity to a moderate support level suggests we should wait for a close below 0.9925 before jumping short. Immediate objective for any sell-off would be 0.9904 break of which suggest a run on the market for 0.9872. Stops should be placed above the pattern high.
EURUSD Three Outside Down Hourly Chart
Resistance: 1.2364 strong/1.2403 moderate/1.2440 minor
Support: 1.2327 moderate/1.2288 minor/1.2251 minor
EURUSD is in a bear market in Hourly charts. We have a high level bearish pattern in the Three Outside Down confirming market direction though proximity to a moderate support at 1.2327 suggests we should look for prices to push under said level before jumping in. Immediate target for sells will be 1.2288 then possibly a push on to 1.2251. Stops should be placed above the pattern high.
Learn more about the chart patterns and how to recognize them in our Learning Center: Japanese Candlesticks - A Way To aLook At Prices