EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, the descending channel continues. Right now, EURUSD is reversing after forming Shooting Star reversal pattern. Later, the price may complete a slight correction and fall to reach 1.0900. However, one shouldn’t exclude a possibility that the price may resume growing towards 1.1022.
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, the pair is still forming a new rising channel. By now, USDJPY has formed Long-Legged Doji reversal pattern. In the future, the price may reverse and grow to reach 108.55, thus continuing the ascending tendency. However, we shouldn’t ignore a possibility that the instrument may continue its decline to reach 107.00.
