Article By RoboForex.com
EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, the asset continues moving downwards. While testing the support area, the pair has formed several reversal patterns, including Doji and Hammer. At the moment, EURUSD may reverse and form a pullback towards the resistance area. In this case, the correctional target may be at 1.1825. However, an alternative scenario implies that the price may continue falling to reach 1.1717 without reversing and correcting.
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, USDJPY has formed several reversal patterns, such as Harami, while testing the support level. Judging by the previous movements, one may assume that the asset may reverse and resume moving upwards. In this case, the upside target is the resistance area at 110.60. At the same time, an opposite scenario implies that the price may fall to return to 109.25 before resuming the ascending tendency.
Free Reports:
Sign Up for Our Stock Market Newsletter – Get updated on News, Charts & Rankings of Public Companies when you join our Stocks Newsletter
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
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 Hammer, EURGBP may rebound from the support level and form a slight pullback. In this case, the correctional target may be the resistance area at 0.8600. Still, there might be an alternative scenario, according to which the asset may return to 0.8500 without reversing and correcting.
Article By RoboForex.com
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
- 3 Signs of Developing U.S. Economic Slowdown Apr 19, 2024
- Israel has retaliated against Iran. Investors run to safe assets Apr 19, 2024
- Gold hits record high amid growing geopolitical tensions Apr 19, 2024
- The US natural gas prices fell to a 2-month low. A drop in the technology sector on Wednesday had a negative impact on the broad market Apr 18, 2024
- Target Thursdays: Cocoa, Bitcoin and USDCHF hit targets! Apr 18, 2024
- British Pound shows signs of recovery amid favourable inflation data Apr 18, 2024
- Indices decline amid hawkish comments from the Fed. Investors are waiting for Israel’s answer Apr 17, 2024
- EURGBP: Slams into support on hot UK inflation Apr 17, 2024
- Brent crude prices dip amid concerns over global demand Apr 17, 2024
- Stock indices sell-off amid rising geopolitical tensions in the Middle East. China’s GDP grew the most in a year Apr 16, 2024
