Japanese Candlesticks Analysis 05.05.2023 (EURUSD, USDJPY, EURGBP)
EURUSD, “Euro vs US Dollar”
On H4, near the support level, the pair has formed a Hammer reversal pattern. The instrument is currently going by the reversal signal in an ascending wave. The growth target could be 1.1100. However, the price may correct to 1.1010 and continue the uptrend after testing the support.
USDJPY, “US Dollar vs Japanese Yen”
On H4, the pair has formed a Harami reversal pattern. The instrument may now go by the reversal signal in an ascending wave. The growth target is 135.60. However, the price may pull back to 13.50 and continue the uptrend after correcting towards support.
EURGBP, “Euro vs Great Britain Pound”
On H4, the pair has formed a Hammer reversal pattern. The instrument may now go by the reversal signal in an ascending wave. The growth target will be the resistance at 0.8785. Upon testing and breaking it, the price could develop an uptrend. However, the quotes may pull back to 0.8740 before growing.
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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