Japanese Candlesticks Analysis 01.09.2023 (EURUSD, USDJPY, EURGBP)
EURUSD, “Euro vs US Dollar”
EURUSD has formed a Shooting Star reversal pattern near the resistance level on H4. Currently, the instrument is going by the reversal signal in a descending wave. The decline target could be the support level at 1.0780. However, the price could correct to 1.0850 and continue the downtrend after the pullback.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has formed a Hammer reversal pattern on H4. Currently, the instrument could go by the reversal signal in an ascending wave. The growth target could be 147.30. However, the price could pull back to 144.90 and continue the uptrend after a correction.
EURGBP, “Euro vs Great Britain Pound”
EURGBP has formed a Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could be 0.8600. Upon testing and breaking it, the price could continue the uptrend. However, the quotes could pull back to 0.8550 before rising.
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.
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