Japanese Candlesticks Analysis

Japanese candlesticks analysis is one of the classic tools for analyzing the currency market. It is believed that Japanese candlestick charts are much more informative and clearer than linear ones. That is why they are preferred by most modern investors. The most important candlestick components here are the open, the close, the high, and the low. The color of candlesticks, black or white, depends on the ration between the security price when the candlestick opened and closed.

Japanese candlesticks, unlike any other technical indicators, allow traders to analyze the behavior of the price itself, rather than the results of mathematical calculations. Below are the daily Japanese candlestick forecasts from RoboForex experts.

18.04.2019

Japanese Candlesticks Analysis 18.04.2019 (USDCAD, AUDUSD)

As we can see in the H4 chart, after completing Shooting Star and Harami reversal patterns, AUDUSD has finished another correction from the resistance level.
17.04.2019

Japanese Candlesticks Analysis 17.04.2019 (GOLD, NZDUSD)

As we can see in the H4 chart, NZDUSD is still testing the support level and forming Hammer, Doji, and Inverted Hammer reversal patterns.
16.04.2019

Japanese Candlesticks Analysis 16.04.2019 (EURUSD, USDJPY)

As we can see in the H4 chart, EURUSD is still trading close to the support level and forming Hammer, Doji, and Inverted Hammer reversal patterns.
15.04.2019

Japanese Candlesticks Analysis 15.04.2019 (USDCAD, AUDUSD)

As we can see in the H4 chart, USDCAD is still testing the support level and forming Harami and Engulfing reversal patterns.
12.04.2019

Japanese Candlesticks Analysis 12.04.2019 (GOLD, NZDUSD)

As we can see in the H4 chart, XAUUSD has completed another correction near the support level and formed Hammer and Harami reversal patterns.
11.04.2019

Japanese Candlesticks Analysis 11.04.2019 (EURUSD, USDJPY)

As we can see in the H4 chart, EURUSD is still trading close to the support level and forming Hammer and Inverted Hammer reversal patterns.
10.04.2019

Japanese Candlesticks Analysis 10.04.2019 (USDCAD, AUDUSD)

As we can see in the H4 chart, USDCAD is still testing the support level and forming Hammer and Engulfing reversal patterns.
09.04.2019

Japanese Candlesticks Analysis 09.04.2019 (GOLD, NZDUSD)

As we can see in the H4 chart, XAUUSD is still trading close to the support level and forming Hammer, Inverted Hammer, Harami, and Doji reversal patterns.