EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, the ascending tendency continues. EURUSD has formed Hammer reversal patterns close to the support line. Right now, the pair is reversing; there is Shooting Star pattern in the center of the channel, which may indicate a slight correction towards 1.1250. After that, the price may continue growing to reach 1.1347. However, one shouldn’t exclude a possibility that the price may continue its growth without any pullbacks.
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, the descending tendency continues. After completing Shooting Star reversal pattern near the resistance level, USDJPY is trying to reverse and continue forming the descending channel. The key downside target after a slight correction may the channel’s downside border at 106.65.
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.