USD/CAD is trading within the downtrend on the 4-hour chart. It shows that the USDCAD is trading below the MA with a period of 55 on the hourly chart (the level of 1.3373), which generally contributes to the decline in the price in the short term. I recommend to trade on this pair from purchases on the basis of the existing wave pattern.
The signal for long position opening will be a break-down of resistance at 1.3412 with the aim to go up to the resistance level of 1.3497 and in case of its break-down at the end of the hour to the level of 1.3574. I recommend to place a stop-loss for this strategy at 1.3290.
The signal for the opening of a short position is a breakdown of support at 1.3301 with the aim of going down to 1.3227 and if it is broken through by 1 hour, to 1.3149. I recommend to place a stop-loss for this strategy at 1.3455.
Considering that the moving average and the location of the technical figure boundaries move over time, it is necessary to make corrections in their positions on the hourly chart. I also recommend opening positions by the end of the hour to avoid false breakouts.
The pair EUR/USD is trading within the descending price channel on the hourly chart. I recommend opening long positions at the breakdown of the resistance at 1.0450 with the aim of further rise to the resistance at 1.0476-1.0501. I recommend to place the stop below 1.0400.
I recommend to open short positions after the breakdown by the results of the hour at the level of support at 1.0413 with the aim to decrease to the level of support at 1.0389-1.0362. I recommend to set a stop above 1.0465.
Based on the technical analysis on the pound/dollar pair, there is a forecast of further movement and the pair is prone to rise.
In the given technical situation pound can be bought from the level of 1.2076, you can also place pending buy order at the level of 1.1886 to increase the resistance at the level of 1.2216-1.2308; I recommend to place a stop at the level of 1.1745.
In the case of a profit of 30 pips or more, we close 50% of the position, and place the rest at no loss. If this forecast for the GBP/USD pair coincides with your opinion, then you should feel free to use this trading strategy.