EURUSD, “Euro vs US Dollar”
As we can see in the H4 chart, the asset has formed a Long-Legged Doji reversal pattern close to the resistance level. At the moment, EURUSD is reversing and may form a new correctional impulse. In this case, the downside target may be at 1.1260. However, an alternative scenario implies that the price may continue growing to reach 1.1400 without forming any corrections towards the support area.
USDJPY, “US Dollar vs Japanese Yen”
As we can see in the H4 chart, USDJPY has formed a Hammer reversal pattern during the pullback. At the moment, USDJPY is reversing and may start a new rising wave towards the resistance level. In this case, the upside target may be at 115.30. At the same time, an opposite scenario implies that the price may correct to reach 114.20 before resuming its uptrend.
EURGBP, “Euro vs Great Britain Pound”
As we can see in the H4 chart, after forming a Hammer reversal pattern near the support level, EURGBP is reversing and may start another growth towards the resistance area. In this case, the upside target may be at 0.8365. Later, the market may test the area, break it, and continue the ascending tendency. Still, there might be an alternative scenario, according to which the asset may fall to reach 0.8320 first and then resume trading upwards.
Source: Roboforex
