Article By RoboForex.com
EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, the asset is finishing the correction within the downtrend. By now, EURUSD has formed several reversal patterns, such as Hanging Man, close to the channel’s upside border. Possibly, the pair may reverse and resume its decline. In this case, the downside target may be the next support level at 1.1705. At the same time, an alternative scenario says that the instrument may grow to reach 1.1875 before resuming the downtrend.
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, the asset is finishing the correction within the uptrend. After forming several reversal patterns, such as Hammer, not far from the support level, USDJPY may rebound from this level, and resume the ascending tendency. In this case, the upside target is the resistance level at 106.45. Still, there is an opposite scenario, which says that the instrument may correct towards 105.00 before resuming the uptrend.
Free Reports:
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.
Download Our Metatrader 4 Indicators – Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
EURGBP
As we can see in the H4 chart, the descending tendency continues. After forming several reversal patterns, including Hammer, close to the support level, EURGBP is still reversing. The correctional target is the resistance level at 0.9110. However, there might be another scenario, according to which the asset may continue falling without reversing. In this case, the downside target will be the next support level at 0.8990.
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.
- EUR/USD Near Six-Week Low as Market Tensions Rise May 20, 2026
- Oil prices remain volatile. The Reserve Bank of Australia signals further rate hikes May 19, 2026
- Gold Recovers Some Losses: What’s Driving the Market? May 19, 2026
- Economic activity in China is slowing. Silver has fallen by more than 8% May 18, 2026
- USD/JPY Rises for Sixth Straight Day: Yen Back on the Cusp of Intervention May 18, 2026
- Optimism surrounding the US-China summit in Beijing supported the markets May 15, 2026
- Gold Falls on US Inflation Concerns as Week Ends in Losses May 15, 2026
- The oil market may remain in a state of severe supply shortage until autumn May 14, 2026
- GBP/USD Under Policy Pressure: What Lies Ahead for the Prime Minister? May 14, 2026
- European stock markets declined amid rising concerns about an energy crisis May 13, 2026
