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 rising impulse. In this case, the upside target may be at 1.1290. However, an alternative scenario implies that the price may fall to reach 1.1200 and continue its descending tendency without testing the resistance area.
USDJPY, “US Dollar vs Japanese Yen”
As we can see in the H4 chart, USDJPY has formed several reversal patterns, for example, Hammer and Engulfing. At the moment, USDJPY may reverse and start a new wave to the upside towards the resistance level. In this case, the upside target may be at 114.25. At the same time, an opposite scenario implies that the price may continue falling to reach 113.20 before resuming its growth towards the resistance level.
EURGBP, “Euro vs Great Britain Pound”
As we can see in the H4 chart, after forming an Inverted Hammer reversal pattern near the support level, EURGBP is reversing and may start another growth towards the next resistance area. In this case, the upside target may be at 0.8560. Later, the market may test the area, break it, and continue the ascending tendency. Still, there might be an alternative scenario, according to which the asset may correct to reach 0.8470 before resuming its movement to the upside.
