EURUSD, “Euro vs US Dollar”
As we can see in the H4 chart, the asset is forming another correction within the uptrend. While testing the support area, the pair has formed several reversal patterns, including Hammer. At the moment, EURUSD may reverse and grow towards the resistance area. In this case, the upside target may be at 1.2100. However, an alternative scenario implies that the price may continue falling to reach 1.2000 before resuming its ascending tendency.
USDJPY, “US Dollar vs Japanese Yen”
As we can see in the H4 chart, USDJPY has formed several reversal patterns, such as Inverted Hammer and Doji, while testing another support level. Judging by the previous movements, the asset may reverse and start a new correction. In this case, the upside correctional target may be the resistance area at 108.55. At the same time, an opposite scenario implies that the price may fall towards 107.55 without reversing and correcting.
EURGBP, “Euro vs Great Britain Pound”
As we can see in the H4 chart, the asset continues trading close to the support level. After forming several reversal patterns there, such as Engulfing, EURGBP may reverse and grow to reach the resistance area. In this case, the correctional target may be at 0.8660. Still, there might be an alternative scenario, according to which the asset may fall to reach 0.8560 without reversing and correcting.
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.