Japanese Candlesticks Analysis 18.09.2019 (EURUSD, USDJPY)
EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, after completing Hammer pattern and rebounding from the descending channel’s downside border, EURUSD has formed another Shooting Star reversal pattern at the resistance level. Later, the price may fall to reach 1.0970, thus continuing forming the descending channel. However, one shouldn’t exclude a possibility that the price may update its closest highs and continue growing towards 1.1111.
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, the pair is forming a new rising channel. By now, USDJPY has formed Shooting Star reversal pattern. In the future, the price may reverse and start a new correction towards 107.00. Judging by the previous movements, it may be assumed that after finishing the correction the instrument may continue growing to reach 108.70 to continue forming the ascending tendency.
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