Article By RoboForex.com
EURUSD, “Euro vs US Dollar”
As we can see in the H4 chart, the mid-term sideways movement continues. The most probable targets may be the retracements of 38.2% and 50.0% at 1.1853 and 1.1960 respectively. However, if EURUSD breaks the low at 1.1508, it may continue falling towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.1377 and 1.1296 respectively.
In the H1 chart, the pair is moving upwards. The short-term target is the high at 1.1750. After breaking it, the instrument may continue growing towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.1810 and 1.1854 respectively.
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, USDJPY is trading downwards and has already reached the retracement of 23.6%. The next downside targets may be the retracements of 38.2%, 50.0%, and 61.8% at 109.90, 108.89, and 107.89 respectively. The resistance level is the high at 113.17.
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In the H1 chart, the pair is being corrected upwards and may soon reach the retracement of 38.2% at 111.57. The next possible target is the retracement of 50.0% at 111.88. the support level is the low at 110.58.
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.