Article By RoboForex.com
EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, the ascending tendency continues. Right now, after forming several reversal patterns, such as Doji, close to the support level, EURUSD may reverse in the form of another rising impulse. The upside target may be at 1.2370. After that, the pair may continue trading upwards. However, an alternative scenario implies that the price may start a new decline towards 1.2265 before resuming the uptrend.
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, after testing the horizontal support level and forming a Harami pattern, USDJPY is reversing. The correctional target remains close to the descending channel’s upside border at 103.30. After finishing the correction, the asset may continue trading downwards to reach the support area at 102.25.
Free Reports:
EURGBP, “Euro vs. Great Britain Pound”
As we can see in the H4 chart, after forming several reversal patterns, such as Hammer, not far from the support level, EURGBP is reversing and correcting. In this case, the upside target may be at 0.9090. However, judging by previous movements, the pair may yet start another decline to reach 0.8930 without testing the resistance level.
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.
By Ino.com Intel Corporation (INTC), a prominent semiconductor company, is currently navigating a challenging phase…
By ForexTime UK100 ↑ over 2% in April Index could see heightened volatility BoE decision…
By JustMarkets At the end of Thursday, the Dow Jones Index (US30) rose by 0.85%, and the…
By Wendy Whitman Cobb, Air University If all goes well late on May 6, 2024,…
By Christopher Decker, University of Nebraska Omaha The Federal Reserve held interest rates steady at…
By JustMarkets At Tuesday's close, the Dow Jones Index (US30) added 0.23%, while the S&P 500 Index (US500) was…
This website uses cookies.