Article By RoboForex.com
EURUSD, “Euro vs US Dollar”
As we can see in the H4 chart, the uptrend continues. After testing the support area, the pair has formed several reversal patterns, including Doji and Engulfing. At the moment, EURUSD may reverse and start a new growth towards the resistance level. In this case, the upside target may be at 1.2295. However, an alternative scenario implies that the price may correct to reach 1.2180 first and then resume growing.
USDJPY, “US Dollar vs Japanese Yen”
As we can see in the H4 chart, USDJPY has formed several reversal patterns, such as Hammer, not far from the support area. At the moment, the asset is reversing and may soon resume its growth. In this case, the upside target is the resistance level at 110.35. At the same time, an opposite scenario implies that the price may start a new pullback towards 109.15 before resuming its 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, after forming several reversal patterns, such as Inverted Hammer, close to the support area, EURGBP may reverse and fall to reach the resistance level. In this case, the upside target may be at 0.8630. Later, the market may rebound from this level and resume falling. Still, there might be an alternative scenario, according to which the asset may fall to reach 0.8570 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.
- Target Thursdays: NAS100, Robusta Coffee, USDCHF Apr 25, 2024
- QCOM wants to create competition in the AI chip market. Hong Kong index hits five-month high Apr 25, 2024
- Japanese yen hits all-time low as BoJ meeting commences Apr 25, 2024
- TSLA shares rose on a weak report. Inflationary pressures are easing in Australia Apr 24, 2024
- USDJPY: On intervention watch Apr 24, 2024
- Euro gains against the dollar amid mixed economic signals Apr 24, 2024
- PMI data is the focus of investors’ attention today. Turkey, Iraq, Qatar, and UAE signed a transportation agreement Apr 23, 2024
- Australian dollar rises on strong economic indicators Apr 23, 2024
- Geopolitical risks in the Middle East are declining. China kept interest rates at lows Apr 22, 2024
- Brent crude dips to four-week low amid easing geopolitical tensions Apr 22, 2024