Article By RoboForex.com
EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, after breaking the rising channel’s downside border, EURUSD is trading sideways at the support level and has already formed several reversal patterns, including Hammer, which indicate a strong reversal signal. The possible upside target may be at 1.1310. However, one shouldn’t exclude a possibility that the price may break the support level and continue falling towards 1.1185.
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, the descending tendency continues. Earlier, USDJPY formed Harami pattern close to the resistance level. Right now, the pair is starting to reverse. Judging by the previous movements, it may be assumed that the price may trade downwards to reach 107.65. However, we shouldn’t ignore a possibility that the instrument may update its highs and continue its growth to reach 109.15.
Article By RoboForex.com
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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.
