Japanese Candlesticks Analysis 23.04.2024 (EURUSD, USDJPY, EURGBP)
EURUSD, “Euro vs US Dollar”
EURUSD has formed a Hammer reversal pattern near the support level on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The correction target could be the resistance level at 1.0700. However, the price could decline to 1.0600 and maintain its downward trajectory without testing the resistance.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has formed a Hanging Man reversal pattern on H4. Currently, the instrument might go by the reversal signal in a descending wave. The correction target could be the 154.20 mark. However, the price could rise to 155.50 and continue its upward momentum without pulling back to the support level.
EURGBP, “Euro vs Great Britain Pound”
EURGBP has formed a Harami reversal pattern on H4. Currently, the instrument is going by the reversal signal in a descending wave. The correction target could be the 0.8615 mark. After testing this level and rebounding from it, the price might continue the uptrend. However, the quotes could rise to 0.8660 without testing the support.
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.