Article By RoboForex.com
EURUSD, “Euro vs US Dollar”
As we can see in the H4 chart, the asset has formed an Inverted Hammer reversal pattern close to the support area. At the moment, EURUSD is reversing in the form of a new ascending impulse. In this case, the upside target may be at 1.0915. However, an alternative scenario implies that the price may fall to reach 1.0790 and continue the descending tendency without any corrections.
USDJPY, “US Dollar vs Japanese Yen”
As we can see in the H4 chart, USDJPY has formed a Shooting Star pattern not far from the resistance level. At the moment, the asset is reversing in the form of a new descending impulse. In this case, the downside correctional target may be at 123.15. At the same time, an opposite scenario implies that the price may grow to reach 125.50 and continue the uptrend without any pullbacks.
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 a Doji reversal pattern near the support area, EURGBP is reversing and may start another ascending wave. In this case, the upside target may be at 0.8360. Later, the market may test the resistance level, rebound from it, and resume the descending tendency. Still, there might be an alternative scenario, according to which the asset may fall to reach 0.8275 and continue the downtrend without any corrections.
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 Bets led by SOFR 3-Months & 10-Year Bonds Dec 21, 2024
- COT Metals Charts: Speculator Bets led lower by Gold, Copper & Palladium Dec 21, 2024
- COT Soft Commodities Charts: Speculator Bets led by Live Cattle, Lean Hogs & Coffee Dec 21, 2024
- COT Stock Market Charts: Speculator Bets led by S&P500 & Russell-2000 Dec 21, 2024
- Riksbank and Banxico cut interest rates by 0.25%. BoE, Norges Bank, and PBoC left rates unchanged Dec 20, 2024
- Brent Oil Under Pressure Again: USD and China in Focus Dec 20, 2024
- Market round-up: BoE & BoJ hold, Fed delivers ‘hawkish’ cut Dec 19, 2024
- NZD/USD at a New Low: The Problem is the US Dollar and Local GDP Dec 19, 2024
- The Dow Jones has fallen for 9 consecutive trading sessions. Inflationary pressures are easing in Canada. Dec 18, 2024
- Gold Holds Steady as Investors Await Federal Reserve’s Rate Decision Dec 18, 2024
