EURUSD, “Euro vs US Dollar”
As we can see in the H4 chart, EURUSD is being corrected upwards to reach the retracements of 38.2% and 50.0% at 1.1285 and 1.1315 respectively. The support is at 1.1183.
In the H1 chart, after finishing the ascending impulse, the pair started a new short-term correction, which is heading towards the retracement of 23.6% at 1.1246.
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, the uptrend has reached the retracement of 76.0%. There was a divergence on MACD, which made the pair start a new correction. After completing it, the instrument may start a new rising impulse towards the local resistance at 111.82 and then the key high at 112.13.
In the H1 chart, the correctional downtrend has already reached the retracement of 23.6%. The next possible targets are the retracements of 38.2% and 50.0% at 111.13 and 110.92 respectively.
