Japanese Candlesticks Analysis 18.07.2023 (EURUSD, USDJPY, EURGBP)
EURUSD, “Euro vs US Dollar”
EURUSD has formed a Hanging Man reversal pattern near the resistance level on H4. Currently, the instrument could go by the reversal signal in a descending wave. The correction target could be the support level of 1.1200. However, the price might rise to 1.1320 and continue the uptrend without any pullback to the support.
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 139.60. However, the price might drop to 137.50 and continue the downtrend without pulling back to the resistance.
EURGBP, “Euro vs Great Britain Pound”
EURGBP has formed a Harami reversal pattern on H4. Currently, the instrument could go by the reversal signal in a descending wave. The decline target could be 0.8565. Upon testing and breaking it, the price might continue the downtrend. However, the quotes could correct to 0.8615 before declining.
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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