EURUSD, “Euro vs US Dollar”
In the H4 chart, EURUSD has reached the retracement of 50.0% and started forming a new rising impulse, which is heading towards the retracements of 61.8 and 76.0% at 1.1653 and 1.1683 respectively. After breaking the high at 1.1733, the instrument may continue trading the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.1811 and 1.1862 respectively.
As we can see in the H1 chart, the uptrend is heading towards the retracements of 61.8% and 76.0% at 1.1653 and 1.1683 respectively.
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, USDJPY has finished the correction and started a new ascending impulse, which is getting closer to the retracement of 61.8% at 111.87 and may continue towards the retracement of 76.0% at 112.36. The resistance level is the high at 113.18, the support one is the low at 109.77.
In the H1 chart, the pair is forming a new ascending impulse. After breaking the short-term high at 111.87, the instrument may continue growing towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 112.38 and 112.71 respectively.
