EURUSD, “Euro vs US Dollar”
As we can see in the H4 chart, the asset has formed an Inverted Hammer reversal pattern close to the support level. At the moment, EURUSD may reverse and form a new ascending impulse. In this case, the upside target may be at 1.1370. However, an alternative scenario implies that the price may correct to reach 1.1285 first and then resume its ascending tendency.
USDJPY, “US Dollar vs Japanese Yen”
As we can see in the H4 chart, USDJPY has formed several reversal patterns, for example, Harami, during the pullback. At the moment, USDJPY may reverse and start a new rising wave to the downside towards the resistance level. In this case, the upside target may be at 116.15. At the same time, an opposite scenario implies that the price may correct to reach 115.25 before resuming its uptrend.
EURGBP, “Euro vs Great Britain Pound”
As we can see in the H4 chart, after forming a Hammer reversal pattern near the support level, EURGBP is reversing and may start another correction towards the resistance area. In this case, the upside correctional target may be at 0.8430. Later, the market may test the area, rebound from it, and resume the descending tendency. Still, there might be an alternative scenario, according to which the asset may fall to reach 0.8360 without any corrections.
