EURUSD, “Euro vs US Dollar”
As we can see in the H4 chart, after forming a Hammer reversal pattern close to the support area, EURUSD may reverse in the form of a new ascending impulse. In this case, the upside target may be at 1.0225. However, an alternative scenario implies that the price may correct to reach 1.0135 and continue the uptrend only after the pullback.
USDJPY, “US Dollar vs Japanese Yen”
As we can see in the H4 chart, USDJPY has formed a Hammer reversal pattern not far from the support area during the correction. At the moment, the asset may reverse and form another rising impulse. In this case, the upside target may be at 135.80. At the same time, the opposite scenario implies that the price may correct to reach 133.85 and continue the uptrend only after the pullback.
EURGBP, “Euro vs Great Britain Pound”
As we can see in the H4 chart, after forming an Engulfing reversal pattern near the resistance area, EURGBP is reversing in the form of another bearish impulse. In this case, the downside target may be the support level at 0.8355. Later, the market may test this level, beak it, and continue moving downwards. Still, there might be an alternative scenario, in which the asset may correct to reach 0.8415 first and then resume the descending tendency.
Source: Roboforex
