EURUSD, “Euro vs US Dollar”
As we can see in the H4 chart, after forming an Inverted Hammer reversal pattern close to the support area, EURUSD may reverse in the form of a new rising impulse. In this case, the upside target may be at 1.0055. However, an alternative scenario implies that the price may fall to break 0.9900 and continue the downtrend.
USDJPY, “US Dollar vs Japanese Yen”
As we can see in the H4 chart, USDJPY has formed a Shooting Star reversal pattern not far from the resistance level. At the moment, the asset may reverse and form another descending impulse. In this case, the downside correctional target may be at 136.15. At the same time, the opposite scenario implies that the price may grow to reach 138.50 and continue the uptrend without any pullbacks.
EURGBP, “Euro vs Great Britain Pound”
As we can see in the H4 chart, after forming a Hammer reversal pattern near the support area, EURGBP is reversing in the form of another bullish impulse. In this case, the upside target may be the resistance level at 0.8470. Later, the market may test this level, rebound from it, and resume moving downwards. Still, there might be an alternative scenario, in which the asset may continue falling to reach 0.8400 without any corrections.
Source: Roboforex
