EUR/USD
As we can see in the H4 chart, the downtrend continues. Right now, after forming several reversal patterns, such as "Hanging Man", close to the channel’s upside border, EUR/USD is reversing and forming another correction before further decline. In this case, the downside target may be the next support level at 1.1615. At the same time, an alternative scenario says that the instrument may grow to reach 1.1815 before resuming the downtrend.
USD/JPY
As we can see in the H4 chart, the asset is finishing the correction within the uptrend. After forming several reversal patterns, such as "Hammer", not far from the support level, USD/JPY may rebound from this level and resume the ascending tendency. In this case, the upside target is the resistance level at 106.45. Still, there is an opposite scenario, which says that the instrument may correct towards 104.85 before resuming the uptrend.
EUR/GBP
As we can see in the H4 chart, the descending tendency continues. After forming several reversal patterns, including "Hammer", close to the support level, EUR/GBP has almost reversed. After testing the channel’s upside border, the pair may resume falling. The downside target remains at the next support level at 0.8990.
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.