Japanese Candlesticks Analysis 11.08.2023 (EURUSD, USDJPY, EURGBP)
EURUSD, “Euro vs US Dollar”
EURUSD has formed a 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 at 1.1110. However, the quotes could correct to 1.0940 and continue the uptrend 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 146.00. However, the price could pull back to 143.90 and continue the uptrend after testing the support.
EURGBP, “Euro vs Great Britain Pound”
EURGBP has formed an Engulfing reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could be 0.8695. Upon testing and breaking it, the price could continue its upward movement. However, the quotes could pull back to 0.8640 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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