EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, the ascending channel continues. By now, EURUSD has formed several reversal candlestick patterns, including Hammer and Long-Legged Doji, close to the channel’s downside border. We may assume that later the price may reverse and get back to 1.1180 to continue the ascending tendency. However, one shouldn’t exclude a possibility that the price may resume falling towards 1.1095.
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, USDJPY is moving inside the rising channel again. it has already formed several reversal patterns, such as Shooting Star, and right now is testing the resistance level. The current situation implies that the pair may rebound and reach 109.45. At the same time, the pair may choose another scenario, according to which it is expected to break the channel’s upside border, update its highs, and test 110.50.
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.