Article By RoboForex.com
EURUSD, “Euro vs US Dollar”
As we can see in the H4 chart, the asset has formed a Hammer reversal pattern close to the support level. At the moment, EURUSD is reversing and may form a new correctional impulse. In this case, the upside correctional target may be at 1.1100. However, an alternative scenario implies that the price may continue falling to reach 1.0860 without any corrections towards the resistance area.
USDJPY, “US Dollar vs Japanese Yen”
As we can see in the H4 chart, USDJPY has formed a Hanging Man reversal pattern not far from the resistance level. At the moment, the asset is reversing and may start a new pullback towards the support area. In this case, the downside correctional target may be at 117.95. At the same time, an opposite scenario implies that the price may grow to reach 119.35 and continue the uptrend without any corrections towards the support area.
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 Harami reversal pattern near the resistance area, EURGBP is reversing and may start another descending wave. In this case, the downside target may be at 0.8380. Later, the market may test the support level, rebound from it, and resume the ascending tendency. Still, there might be an alternative scenario, according to which the asset may grow to reach 0.8475 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.
- Stock indices under pressure ahead of US elections. Oil strengthened due to lower inventories Oct 31, 2024
- Australia has seen a sharp decline in inflationary pressures. Silver rose to $34 an ounce Oct 30, 2024
- AUD/USD Continues Downward Spiral Amid Economic Concerns Oct 30, 2024
- GBPUSD could be in for mid-week “sneaky surprise” Oct 30, 2024
- Bitcoin has reached the $70,000 mark. The Canadian dollar fell to last year’s lows Oct 29, 2024
- Brent Crude Oil Experiences Sharp Price Decline Oct 29, 2024
- EUR/USD Weakens Amid Global Economic Uncertainty and Strong US Dollar Oct 28, 2024
- Oil, Yen tumble after weekend turmoil Oct 28, 2024
- Bank of England may delay rate cut. Inflation in Tokyo continues to decline Oct 25, 2024
- NZD/USD Hits Four-Week Low Amid US Dollar Strength Oct 25, 2024
