Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
As we can see at the H4 chart, the EUR/USD pair is still being corrected to the downside. The main targets of this correction may be the retracements of 38.2% and 50% at 1.1605 and 1.1513 respectively.
At the H1 chart, the situation is pretty the same. The pair was corrected to the upside by 61.6% and then started a new descending impulse.
USD JPY, “US Dollar vs. Japanese Yen”
As we can see at the H4 chart of the USD/JPY pair, the price has broken the local low and right now is still falling inside the downtrend with the targets in the post-correctional extension area between the retracements of 138.2% and 161.8% at 107.88 and 107.37 respectively.
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More detailed structure is shown on the H1 chart. After breaking the local low at 108.59, the price may move into the post-correctional extension area between the retracement of 138.2% and 161.8% at 108.24 and 107.99 respectively.
RoboForex Analytical Department
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.
