EUR/USD
As we can see in the H4 chart, the downtrend continues. By now, EUR/USD has formed several reversal patterns, such as "Inverted Hammer", close to the support level. Considering the current descending dynamics, the pair may reverse and form a slight correction, which may be followed by further decline. In this case, the downside target may be the next support level at 1.1560. At the same time, an alternative scenario implies that the instrument may continue growing to return to the descending сhannel’s upside border at 1.1730.
USD/JPY
As we can see in the H4 chart, the pair is still correcting within the uptrend. After forming several reversal patterns, including "Harami", USD/JPY is expected to correct towards the support level and then resume moving upwards. The upside target may be close to the resistance area at 106.20. Still, there is an opposite scenario, which says that the instrument may continue falling and reach the next support level at 104.85.
EUR/GBP
As we can see in the H4 chart, the correction within the rising tendency continues. After forming several reversal patterns, including "Doji", close to the support level, EUR/GBP is expected to reverse and rebound from the support level due to a strong rising impulse. Later, the market 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.
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.