Japanese Candlesticks Analysis 23.12.2020 (EURUSD, USDJPY, EURGBP)
EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, the ascending tendency continues. Right now, after forming several reversal patterns, such as Engulfing, close to the support level, EURUSD may reverse in the form of another rising impulse. The upside target remains at 1.2300. After that, the pair may continue trading upwards.
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, after testing the horizontal support level and forming a Hammer pattern, USDJPY is reversing. The correctional target may be near the descending channel’s upside border at 103.85. After finishing the correction, the asset may continue trading downwards to reach the support area at 102.90.
EURGBP, “Euro vs. Great Britain Pound”
As we can see in the H4 chart, the correction within the ascending tendency continues. Right now, after forming several reversal patterns, such as Harami, not far from the channel’s upside border, EURGBP is reversing and correcting. In this case, the downside target may be at 0.9040. However, judging by previous movements, the pair may yet start another growth to reach 0.9195 without testing the channel’s downside border.
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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