Japanese Candlesticks Analysis 05.04.2024 (EURUSD, USDJPY, EURGBP)
EURUSD, “Euro vs US Dollar”
EURUSD has formed a Shooting Star reversal pattern near the resistance level on H4. Currently, the instrument is going by the reversal signal in a descending wave. The decline target might be the support level of 1.0775. However, the quotes could correct to 1.0870 and extend the downtrend after the pullback.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has formed a Harami reversal pattern on H4. Currently, the instrument might go by the reversal signal in an ascending wave. The growth target could be 150.50. However, the quotes might correct towards 150.70 and extend the uptrend after the test of the support.
EURGBP, “Euro vs Great Britain Pound”
EURGBP has formed a Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target might be 0.8595. Upon testing and breaking this level, the price could extend the uptrend. However, the quotes might correct to 0.8565 before rising.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.