EURUSD, “Euro vs US Dollar”
As we can see in the H4 chart, the uptrend continues; it has already reached the retracement of 50.0%. The next upside targets may be the retracements of 61.8% and 76.0% at 1.1347 and 1.1384 respectively. The support is at 1.1183.
In the H1 chart, the divergence made the pair complete the ascending impulse and start a new short-term correction to the downside, which has already reached the retracement of 23.6%. The next targets may be the retracements of 38.2% and 50.0% at 1.1279 and 1.1265 respectively. The resistance is the local high at 1.1324.
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, the uptrend has almost reached the high at 112.13. There is a divergence on Oscillator, which may indicate a possible pullback soon. After finishing this pullback, the instrument may start a new rising impulse towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 112.19 and 112.43 respectively. The support is at 111.21.
In the H1 chart, USDJPY is being corrected to the downside. The possible targets are the retracements of 23.6%, 38.2%, and 50.0% at 111.80, 111.61, and 111.47 respectively.
