Japanese Candlesticks Analysis 29.05.2018 (EURUSD, USDJPY)
EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, EURUSD has reached another low and formed several Hammer, Inverted Hammer, and Harami reversal patterns. Judging by the previous movements, at the moment it may be assumed that the price may continue its decline despite the above-mentioned reversal patterns.
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, USDJPY is testing the support level and forming Hammer reversal patterns. Judging by the previous movements, at the moment it may be assumed that the instrument may form several more reversal patterns and then resume its growth.
RoboMarkets Analytical Department
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.