Japanese Candlesticks Analysis 13.07.2023 (EURUSD, USDJPY, EURGBP)
EURUSD, “Euro vs US Dollar”
EURUSD has formed a Shooting Star reversal pattern on H4 near the resistance level. Currently, the instrument could go by the reversal signal in a descending wave. The correction target might be the support level of 1.1085. However, the price could rise to 1.1240 and continue the uptrend without testing the support level.
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 might be 139.90. However, the price could drop to 137.75 and continue the downtrend without pulling back to the resistance level.
EURGBP, “Euro vs Great Britain Pound”
EURGBP has formed a Shooting Star reversal pattern on H4 near the resistance level. Currently, the instrument could go by the reversal signal in a descending wave. The decline target might be 0.8535. Upon testing and breaking it, the quotes could get a chance to continue the downtrend. However, the price might correct to 0.8590 without testing the resistance level.
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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