Japanese Candlesticks Analysis 04.10.2019 (EURUSD, USDJPY)
EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, the descending channel continues. After returning to the channel’s upside border, EURUSD has formed Harami pattern. Later, the price may rebound and resume falling to reach 1.0852. However, one shouldn’t exclude a possibility that the price may break the resistance level and continue growing towards 1.1022.
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, after breaking the descending channel’s downside border, the pair has formed Hammer pattern close to the horizontal support level. Right now, it may be assumed that USDJPY may reverse and return to 108.55. However, we shouldn’t ignore a possibility that the instrument may fail to reverse and then start a new decline to reach 106.20.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
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