EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, the ascending tendency continues. Right now, after forming several reversal patterns, such as Hammer, close to the support area, EURUSD is reversing. The upside target remains at 1.1950. After that, the instrument may continue moving upwards. However, an alternative scenario implies that the price may start a new pullback to return to 1.1795 before resuming the uptrend.
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, after finishing the correction from the horizontal resistance level, USDJPY has formed several reversal patterns, such as Hammer, not far from the support area. Possibly, the asset may reverse and continue the ascending tendency. The upside target is the resistance area at 105.56. At the same time, an opposite scenario says that the price may continue falling towards 103.80 without reversing and reaching the above-mentioned resistance area.
EURGBP, “Euro vs. Great Britain Pound”
As we can see in the H4 chart, the asset continues moving within the descending channel. Right now, after forming several reversal patterns, such as Engulfing, not far from the horizontal resistance level, EURGBP may reverse and resume falling. After a slight correction, the downside target may be the channel’s downside border at 0.8840. However, judging by previous movements, the pair may yet continue growing towards the channel’s upside border before resuming its decline. In this case, the correctional target will be at 0.9535.
