Japanese Candlesticks Analysis 21.08.2020 (EURUSD, USDJPY, EURGBP)
EURUSD, “Euro vs. US Dollar”
On H4, the pair is developing an uptrend. It has formed a Shooting Star. Currently, this pattern may entail a pullback to 1.1835. As long as the overall dynamics is ascending, we may expect the quotations to go on growing, aiming at the next resistance level at 1.1965. However, the pair may grow to 1.1965, avoiding reversal patterns.
USDJPY, “US Dollar vs. Japanese Yen”
On H4, the pair has again formed a reversal pattern near the support level, an Inverted Hammer this time. We may presume that after the correction, the price will resume working off the reversal pattern. The aim for growth is near the resistance level at 107.00. However, the pair may still return top the support level at 105.20.
EURGBP, “Euro vs. Great Britain Pound”
On H4, the pair is testing the lower border of the descending channel. It has formed several reversal patterns, including a Hammer, and started working off the signal of the candlestick pattern. The aim is at 0.8970: the pair may thus correct in the downtrend. However, the price may still decline to 0.8889. skipping the reversal patterns.
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