EURUSD, “Euro vs US Dollar”
As we can see in the H4 chart, EURUSD continues the descending tendency after breaking the long-term low at 1.0879. At the moment, the pair is trying to fix below the above-mentioned level in order to continue its decline towards the post-correctional extension area between 138.2% and 161.8% fibo at 1.0742 and 1.0657 respectively. However, if the instrument forms a new pullback, its target will be the resistance is at 76.0% fibo (1.0965).
In the H1 chart, the pair is slowing down its decline after breaking the long-term low. At the same time, there is a divergence on MACD. These two factors taken together may indicate a new pullback to return to 1.0879.
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, the pair has sopped testing its highs. The divergence made the price finish the previous rising impulse, which may be followed by a new mid-term descending wave. The downside targets may be 38.2% and 50.0% fibo at 108.06 and 107.37 respectively.
The H1 chart shows a correction to the downside after the divergence. After reaching 23.6% fibo, the pair may continue falling towards 38.2% and 50.0% fibo at 109.43 and 109.22 respectively. if the price breaks the local high at 110.13, the instrument may continue growing the key high at 110.29.