Article By RoboForex.com
EURUSD, “Euro vs US Dollar”
As we can see in the H4 chart, the asset is forming another correction within the uptrend. After testing the resistance area, the pair has formed several reversal patterns, including Hanging Man. At the moment, EURUSD may reverse and start a new pullback towards the support level. In this case, the correctional target may be at 1.210. However, an alternative scenario implies that the price may continue growing to reach 1.2200 without testing the support level.
USDJPY, “US Dollar vs Japanese Yen”
As we can see in the H4 chart, USDJPY has formed several reversal patterns, such as Inverted Hammer, not far from the support area during the pullback. At the moment, the asset is reversing and may start a new growth towards the upside target at 109.60. At the same time, an opposite scenario implies that the price may correct towards 105.90 and then resume growing.
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, while trading close to the channel’s downside border, EURGBP may reverse and grow to reach the resistance area. In this case, the upside target may be at 0.8640. Later, the market may rebound from the level and resume falling. Still, there might be an alternative scenario, according to which the asset may fall to reach 0.8565 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.
- COT Bonds Charts: Speculator Weekly Changes led by 5-Year & 10-Year Bonds Apr 28, 2024
- COT Stock Market Charts: Speculator Bets led by VIX & Russell-Mini Apr 28, 2024
- COT Soft Commodities Charts: Speculator Bets led by Corn & Soybean Meal Apr 28, 2024
- Today, investors’ focus is on the PCE Price Index inflation report Apr 26, 2024
- Gold price recovers amid uncertain US economic outlook Apr 26, 2024
- This “Bullish Buzz” Reaches Highest Level in 53 Years Apr 26, 2024
- FastSpring and EBANX Forge Partnership to Expand Pix Payments for Digital Products in Brazil Apr 25, 2024
- 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