Japanese Candlesticks Analysis 03.09.2020 (EURUSD, USDJPY, EURGBP)

Article By RoboForex.com

EURUSD, “Euro vs. US Dollar”

On H4, the pair keeps correcting in an uptrend. The price is currently working off a signal by a Harami reversal pattern, testing the lower border of the ascending channel at the moment. Judging by the ascending dynamics, we may suppose that upon correcting, the quotations will bounce off the support line and go on growing to the next resistance level at 1.1955. However, the price may still fall to 1.1760.

USDJPY, “US Dollar vs. Japanese Yen”

On H4, the pair is working off an Inverted Hammer. We may presume that, upon correcting to 106.00, the pair will go on ascending. The aim of the growth is still near the resistance at 107.00. However, the price may still return to the support at 105.20.

EURGBP, “Euro vs. Great Britain Pound”

On H4, the pair has broken away the lower border of the descending channel. It is currently trading near the horizontal support level, where reversal candlestick patterns might form. The aim of a bounce is currently the resistance level at 0.8970; bouncing, the pair may correct in the downtrend. However, it may still just decline to 0.8855 without correction.

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.