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 a new correctional impulse. In this case, the upside correctional target may be at 1.0785. However, an alternative scenario implies that the price may fall to reach 1.0655 and continue the descending tendency without any corrections towards the resistance level.
USDJPY, “US Dollar vs Japanese Yen”
As we can see in the H4 chart, USDJPY has formed a Harami pattern not far from the support level. At the moment, the asset is reversing in the form of a new rising impulse. In this case, the upside target may be at 130.00. At the same time, an opposite scenario implies that the price may correct to reach 127.25 first and then resume the uptrend.
EURGBP, “Euro vs Great Britain Pound”
As we can see in the H4 chart, after forming a Shooting Star reversal pattern near the resistance area, EURGBP is reversing and correcting. In this case, the downside correctional target may be at 0.8380. Later, the market may test the support level, rebound from it, and resume the ascending impulse. Still, there might be an alternative scenario, according to which the asset may grow to reach 0.8475 and continue the uptrend without testing the support level.
Source: Roboforex
