Japanese Candlesticks Analysis 17.10.2019 (EURUSD, USDJPY)
EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, the ascending channel continues. By now, EURUSD has completed Harami reversal pattern close to the channel’s upside border. Later, after reversing, the price may form a new correction and then resume growing to reach 1.1111. However, one shouldn’t exclude a possibility that the price may continue falling towards 1.1010.
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, after forming Doji reversal pattern, USDJPY is trading close to the resistance level. Right now, the pair is reversing and may later continue falling to return to 108.46. After that, the instrument may reverse and then start a new ascending tendency to reach 109.14.
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