EUR USD, “Euro vs US Dollar”
As we can see at the H4 chart, the EUR/USD pair is still being corrected to the downside. The next targets of this correction may be the retracements of 38.2% and 50% at 1.1605 and 1.1513 respectively.
At the H1 chart, the pair was corrected to the upside by 61.6% and then started a new descending impulse. After breaking 1.1689 to the downside, the price may form a post-correctional extension range. The main target of such decline may the retracement of 161.8% at 1.1605, which is the same as the target from the H4 chart.
USD JPY, “US Dollar vs. Japanese Yen”
At the H4 chart of the USD/JPY pair, after forming the convergence, which indicated that the downtrend completed, the price started a new ascending correction. By now, the pair has reached the retracement of 23.6%. The next targets are the retracements of 38.2%, 50%, and 61.8% at 110.91, 111.60, and 112.28 respectively.
At the H1 chart, the situation is pretty similar.
RoboForex Analytical Department