EURUSD, “Euro vs US Dollar”
As we can see in the H4 chart, the asset has formed a Hammer reversal pattern close to the support area. At the moment, EURUSD is reversing in the form of another ascending impulse. In this case, the upside target may be at 1.0235. However, an alternative scenario implies that the price may fall to reach 1.0070 and continue the downtrend without testing 1.0235.
USDJPY, “US Dollar vs Japanese Yen”
As we can see in the H4 chart, USDJPY has formed several reversal patterns not far from the support area, such as Inverted Hammer. At the moment, the asset is completing the correction and may form a new ascending impulse. In this case, the upside target may be at 137.00. At the same time, an opposite scenario implies that the price may correct to reach 135.10 and continue the uptrend only after testing the support area.
EURGBP, “Euro vs Great Britain Pound”
As we can see in the H4 chart, after forming several reversal patterns near the support area, such as Hammer, EURGBP is reversing in the form of a new rising impulse. In this case, the upside target may be the resistance level at 0.8490. Later, the market may test this level, rebound from it, and resume moving downwards. Still, there might be an alternative scenario, according to which the asset may fall to reach 0.8410 without any pullbacks.
Source: Roboforex
