Japanese Candlesticks Analysis 26.08.2020 (EURUSD, USDJPY, EURGBP)

Article By RoboForex.com

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, the uptrend continues but is slowing down a little bit. By now, after forming a Hammer pattern not far from the support level, EURUSD is still reversing. Considering the current bullish dynamics, the price may continue trading upwards to reach the next resistance level at 1.1945. At the same time, an alternative scenario implies that the instrument may continue falling to return to 1.1755.

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, after forming a Hammer pattern not far from the support level, USDJPY is expected to reverse and form a slight correction. The upside target may be close to the resistance area at 107.00. Still, there is an opposite scenario, which says that the instrument may return to the support level at 105.46.

EURGBP, “Euro vs. Great Britain Pound”

As we can see in the H4 chart, the pair is once again testing the support level. After finishing several reversal patterns, including Harami, EURGBP has started reversing. The upside target is at 0.9045. Later, the price may continue moving upwards. However, there might be another scenario, according to which the asset may fall to return to 0.8950 without reversing.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.