EUR/USD Uptrend Continues

Published 09/21/2020, 04:21 AM
Updated 07/09/2023, 06:32 AM
EUR/USD
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USD/JPY
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EUR/GBP
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EUR/USD

As we can see in the H4 chart, the uptrend continues. At the moment, EUR/USD is reversing after forming a "Hammer" pattern. The upside target may be the next resistance level at 1.1950. At the same time, an alternative scenario implies that the instrument may continue falling to return to 1.1790.
EURUSD

USD/JPY

As we can see in the H4 chart, the pair is moving close to the support level. After forming several reversal patterns, including "Hammer", USD/JPY is expected to reverse and move upwards. The upside target may be close to the resistance area at 104.72. Still, there is an opposite scenario, which says that the instrument may continue falling and reach the next support level at 103.90 without reversing.
USDJPY

EUR/GBP

As we can see in the H4 chart, the rising tendency continues. After forming several reversal patterns, including "Doji", close to the support level and reversing, EUR/GBP has rebounded from the channel’s downside border due to a strong rising impulse and may resume growing to reach the next resistance level at 0.9300. However, there might be another scenario, according to which the asset may fall and return to the support area at 0.9075.
EURGBP

Disclaimer: 
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.

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