Japanese Candlesticks Analysis 20.12.2018 (EURUSD, USDJPY)
EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, EURUSD is testing the resistance level and forming Engulfing, Shooting Star, and Doji reversal patterns. Judging by the previous movements, at the moment it may be assumed that after testing the level the instrument may be corrected and then continue moving to the upside.
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, USDJPY has broken the resistance level and formed several Engulfing, Hammer, and Doji reversal patterns. Judging by the previous movements, at the moment it may be assumed that after completing the pullback the instrument may continue its ascending tendency.
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.