EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, the descending tendency continues. After forming Harami reversal pattern, EURUSD is trading in the middle of the channel. We may assume that after reversing the price may form a slight correction and then resume falling to reach 1.0970. However, one shouldn’t exclude a possibility that the price may continue growing towards 1.1111.
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, the ascending tendency continues. By now, after testing the channel’s downside border, USDJPY has formed another reversal pattern, Engulfing. Later, the pair may reverse and resume growing towards 109.33 to continue forming the ascending tendency. At the same time, the pair may choose another scenario and start a new decline to reach 108.25.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.