Japanese Candlesticks Analysis 23.03.2023 (ERUSD, USDJPY, EURGBP)
EURUSD, “Euro vs US Dollar”
On H4, near the support level, the pair has formed a Hammer reversal pattern. Currently, the instrument is going by the reversal signal in an ascending wave. The target for the growth might be 1.0955. However, the price might pull back to 1.0870 and continue the uptrend after correcting to the support.
USDJPY, “US Dollar vs Japanese Yen”
On H4, the pair has formed a Hammer reversal pattern. Currently, the instrument may go by the reversal signal in an ascending wave. The target for the pullback might be 131.90. However, the price might drop to 130.00 and continue the downtrend without correcting to the resistance.
EURGBP, “Euro vs Great Britain Pound”
On H4, the pair has formed an Engulfing reversal pattern. Currently, the instrument may go by the reversal signal in a descending wave. The target for the pullback might be the support level of 0.8835. Upon testing it and pushing off it, the price might continue the uptrend. However, the price might grow to 0.8900 without any correction.
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.
The material presented and the information contained herein is intended for our customers, and is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.