Article By RoboForex.com
EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, the descending tendency continues. Right now, after forming several reversal patterns, such as Hammer, close to the support area, EURUSD is still reversing and may later reach the resistance level at 1.1710. After that, the instrument may rebound from this level and resume falling. At the same time, an alternative scenario says that the instrument may fall to reach 1.1590 without reversing and correcting towards the above-mentioned resistance level.
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, after forming several reversal patterns, such as Hammer, close to the support area, USDJPY is reversing. In the future, the price may test the resistance area at 105.05, break this level, and then continue the ascending tendency. In this case, the upside target is still the next resistance level at 105.50. Still, there is an opposite scenario, which says that the instrument may continue falling to return to 104.26 before resuming its growth.
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.
Sign Up for Our Stock Market Newsletter – Get updated on News, Charts & Rankings of Public Companies when you join our Stocks Newsletter
EURGBP, “Euro vs. Great Britain Pound”
As we can see in the H4 chart, the asset continues moving within the descending channel. Right now, after forming several reversal patterns, including Hammer, close to the support area, EURGBP may reverse and correct towards the channel’s upside border. In this case, the correctional target will be at 0.9070. However, judging by previous movements, the pair may yet continue falling without reversing and correcting. If it happens, the downside target will be the next support area at 0.8965.
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.
- The ceasefire between Israel and Lebanon has reduced the geopolitical premium Jun 5, 2026
- EUR/USD: All Eyes on Non-Farm Payrolls Jun 5, 2026
- The escalation of the conflict in the Middle East put pressure on US and European stock indices Jun 4, 2026
- Gold Remains Under Pressure, but a Rebound Is Still Possible Jun 4, 2026
- Bitcoin drops below the psychological $70,000 level. The US stock indices hit new record highs Jun 3, 2026
- EUR/USD on Edge as Markets Await Key Employment Data Jun 3, 2026
- Oil prices surged again amid rumors of a freeze in diplomacy between the United States and Iran Jun 2, 2026
- GBP/USD in a State of Uncertainty: Risks Remain, but Market Reactions Are Muted Jun 2, 2026
- The US stock indices once again finished the trading session at new all‑time highs Jun 1, 2026
- USD/JPY Approaches 160.00: Is Another Intervention Coming? Jun 1, 2026
