Japanese Candlesticks Analysis 12.11.2019 (EURUSD, USDJPY)
EURUSD, “Euro vs. US Dollar”
The H4 chart shows a new descending tendency. After forming several reversal patterns, such as Doji, EURUSD is trading close to the channel’s downside border. We may assume that later the price may reverse and then resume growing to reach 1.1110 in order to continue the descending channel. However, one shouldn’t exclude a possibility that the price may continue falling towards 1.1011.
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, the ascending tendency continues. After completing the correction, USDJPY has already formed another reversal pattern, Doji, in the middle of the channel. Later, the pair may reverse and resume growing towards the channel’s upside border at 109.65 to continue forming the ascending tendency. At the same time, the pair may choose another scenario and start a new decline to reach 108.65.
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