Japanese Candlesticks Analysis 22.05.2023 (EURUSD, USDJPY, EURGBP)
EURUSD, “Euro vs US Dollar”
On H4, near the support level, EURUSD has formed a Harami reversal pattern. The instrument is currently going by the reversal signal in an ascending wave. The correction target could be 1.0860. However, the price might drop to 1.0760 and continue the downtrend without testing the resistance level.
USDJPY, “US Dollar vs Japanese Yen”
On H4, USDJPY has formed a Hanging Man reversal pattern. The instrument is currently going by the reversal signal in a descending wave. The correction target could be 137.00. However, the price might rise to 139.10 and continue the uptrend without pulling back to the support level.
EURGBP, “Euro vs Great Britain Pound”
On H4, EURGBP has formed a Hammer reversal pattern. The instrument is currently going by the reversal signal in an ascending wave. The correction target could be 0.8700. Upon testing the level and rebounding from it, the price might develop a downtrend. However, the quotes could drop to 0.8645 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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