Article By RoboForex.com
EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, the downtrend continues. By now, EURUSD has formed a Hammer reversal pattern close to the support level. Considering the current descending dynamics, the pair may reverse and form a slight correction, which may be followed by further decline. In this case, the downside target may be the next support level at 1.1570. At the same time, an alternative scenario implies that the instrument may continue growing to return to 1.1755.
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, the pair is moving close to the resistance level. After forming several reversal patterns, including Harami, USDJPY is expected correct and then resume moving upwards. The upside target may be close to the resistance area at 106.20. Still, there is an opposite scenario, which says that the instrument may continue falling and reach the next support level at 104.88.
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 rising tendency continues. After forming several reversal patterns, including Harami, close to the support level and reversing, EURGBP has rebounded from the channel’s downside border due to a strong rising impulse and may resume growing to reach the next resistance level at 0.9300. However, there might be another scenario, according to which the asset may fall and return to the support area at 0.9075.
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.
- ECB may go for a double rate cut in December. US stock indices continue to update historical highs Dec 3, 2024
- Brent Oil Prices Dip Ahead of Crucial OPEC+ Meeting Dec 3, 2024
- Donald Trump threatens the BRICS bloc with high tariffs. The Canadian dollar fell after weak GDP data Dec 2, 2024
- Week Ahead: Will US500 stay above 6000 milestone? Dec 2, 2024
- AUD/USD Stabilises Amid US Dollar Pressures and Domestic Economic Strength Dec 2, 2024
- Gold Prices Rise Amid Weakening US Dollar and Geopolitical Tensions Nov 29, 2024
- As expected, the RBNZ cut the rate by 0.5%. Australia’s inflation rate remained at its lowest level since the summer of 2021 Nov 27, 2024
- EUR/USD Steady Ahead of Major US Data Releases Nov 27, 2024
- NZD/USD Hits Yearly Low Amid US Dollar Strength Nov 26, 2024
- Trump plans to raise tariffs by 10% on goods from China and 25% on goods from Mexico and Canada Nov 26, 2024
