Japanese Candlesticks Analysis 08.08.2023 (EURUSD, USDJPY, EURGBP)
EURUSD, “Euro vs US Dollar”
EURUSD has formed an Inverted Hammer reversal pattern near the support level on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could be the resistance level at 1.1070. However, the price could correct to 1.0940 and continue its upward movement after the pullback.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has formed an Inverted Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could be 144.30. However, the price could pull back to 142.30 and continue its upward movement after testing the support level.
EURGBP, “Euro vs Great Britain Pound”
EURGBP has formed a Doji reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could be 0.8660. Upon testing and breaking it, the price could continue the uptrend. However, the quotes could pull back to 0.8590 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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