EURUSD, “Euro vs US Dollar”
As we can see in the H4 chart, the asset continues trading not far from the support level, where it has formed several reversal patterns, including Hammer and Inverted Hammer. At the moment, EURUSD may reverse and start a new pullback. In this case, the correctional target may be at 1.1595. Later, the market may rebound from the resistance area and resume trading downwards. However, an alternative scenario implies that the price may fall to reach 1.1500 without any corrections.
USDJPY, “US Dollar vs Japanese Yen”
As we can see in the H4 chart, USDJPY has formed several reversal patterns, for example, Hanging Man, while testing the resistance area. At the moment, USDJPY is reversing and may start a new correctional impulse. In this case, the target may be at 113.00. At the same time, an opposite scenario implies that the price may grow towards 114.10 without forming any serious corrections.
EURGBP, “Euro vs Great Britain Pound”
As we can see in the H4 chart, after forming several reversal patterns, such as Hammer and Doji, near the support level, EURGBP may reverse and start a new correction. In this case, the correctional target may be at 0.8520. Later, the market may test the resistance area, rebound from it, and resume the descending tendency. Still, there might be an alternative scenario, according to which the asset may continue falling to reach 0.8455 without testing the resistance area.
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.