EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, EURUSD is forming the descending tendency. Right now, EURUSD has completed several reversal candlestick patterns, such as Harami, close to the channel’s upside border. We may assume that later the price may reverse and continues its decline to reach the support level at 1.0955. However, one shouldn’t exclude a possibility that the price may form a pullback and reach 1.1075.
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, USDJPY is moving near the rising channel’s downside border, where it has formed several reversal patterns, such as Engulfing. The current situation implies that the pair may reverse and resume growing to reach 109.65. At the same time, the pair may choose another scenario, according to which it is expected to continue falling towards 108.45.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is intended for our customers, and is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.