Article By RoboForex.com

EUR USD, “Euro vs US Dollar”

As we can see at the H4 chart, the EUR/USD pair is forming a new ascending impulse. After reaching the retracement of 76.0%, the price started moving towards the high at 1.1961. If the price breaks it, the instrument may trade towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.2053 and 1.2112 respectively. The support level is at 1.1717.

At the H1 chart, we can see the divergence, after which the EUR/UISD pair was corrected by 50.0%. right now, the price is forming a short-term ascending impulse towards 1.1901. After breaking it, the instrument may grow towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.1933 and 1.1955 respectively.

USD JPY, “US Dollar vs. Japanese Yen”

As we can see at the H4 chart, the USD/JPY pair is about to reach the current high at 113.75. After breaking this level, the price may continue growing towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 114.40 and 114.80 respectively. The support level is at 111.95.

At the H1 chart, the price is starting a new correction to the downside. The targets of the correction are the retracements of 38.2% and 50.0% at 113.13 and 112.97 respectively. The closest target for a possible ascending impulse after that is the current local high at 113.64.

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.