EURUSD, “Euro vs US Dollar”
As we can see in the H4 chart, EURUSD has broken the previous low and right now is still falling. The possible downside targets may be inside the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.1104 and 1.0984 respectively. The resistance level is at 1.1500.
In the H1 chart, EURUSD is trading downwards. In the nearest future, the price may be corrected to reach 1.1300.
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, USDJPY is forming another ascending impulse inside the long-term uptrend. The closest target is the high at 114.55. If the price breaks it, the instrument may continue growing towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 115.75 and 116.50 respectively. The local support is at 112.96.
In the H1 chart, the pair has been corrected by 50.0% and right now is forming a new impulse to the upside.
