EUR USD, “Euro vs US Dollar”
As we can see at the H4 chart, after reaching the retracement of 61.8%, the EUR/USD pair started a new correction, which has already reached the retracement of 61.8%. The next targets of this ascending movement may be at 1.1887 and 1.1940. If the price breaks the local high at 1.1960, the instrument may trade towards the post-correctional extension area between the retracements of 138.2% and 161.8%.
At the H1 chart, the EUR/UISD pair is forming a new ascending impulse after being corrected to the downside. The main targets of this movement are inside the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.1909 and 1.1940 respectively.
USD JPY, “US Dollar vs. Japanese Yen”
As we can see at the H4 chart, the USD/JPY pair is about to finish the descending correction after reaching the retracement of 61.8%. The main targets of the current impulse may be near the high at 113.75, and then inside the post-correctional extension area between the retracements of 138.2% and 161.8% at 114.41 and 114.82 respectively.
At the H1 chart, the price is moving towards its short-term upside targets, which are the retracements of 50.0%, 61.8%, and 76.0% at 112.88, 113.10, and 113.33 respectively.
RoboForex Analytical Department