Japanese Candlesticks Analysis 05.07.2018 (EURUSD, USDJPY)
EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, while moving sideways and forming slight pullbacks and Hammer, Engulfing, and Doji reversal patterns, EURUSD has reached the resistance level once again. At the moment, it may be assumed that the above-mentioned patterns indicate that the instrument may break the level and continue its ascending movement.
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, after completing another slight correction from the resistance level, USDJPY has formed several Harami, Hammer, and Engulfing reversal patterns. Judging by the previous movement, it may be assumed that the correction is over and the instrument may continue trading to the upside.
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.
The material presented and the information contained herein is intended for our customers, and is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.