EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, the ascending tendency continues. After breaking the channel’s border and forming a Shooting Star pattern not far from the resistance level, EURUSD has started reversing. Considering the current bullish dynamics, the price may form a slight pullback and then resume trading upwards to reach the resistance level at 1.1616. At the same time, an alternative scenario implies that the instrument may continue falling to return to 1.1450.
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, after forming another Hammer pattern not far from the support area, USDJPY has started reversing. It’s been the third Hammer pattern near the support level so far. The current situation implies that after a slight correction the market may rebound towards the resistance level at 107.37. Still, there is an opposite scenario, which says that the instrument may fall and return to 106.40.
EURGBP, “Euro vs. Great Britain Pound”
As we can see in the H4 chart, the pair is moving inside the rising channel again. By now, after finishing an Inverted Hammer pattern, EURGBP is reversing. The upside target is at 0.9150. Later, the price may continue moving upwards to update the highs. However, there might be another scenario, according to which the asset may fall and return to the support level at 0.9010 before starting a new growth.
