Japanese Candlesticks Analysis 08.09.2020 (EURUSD, USDJPY, EURGBP)

Article By RoboForex.com

EURUSD, “Euro vs. US Dollar”

On H4, the pair keeps correcting in an uptrend. Currently, the pair keeps trading at the lower border of the ascending channel. Upon forming a group of reversal patterns, including a Hammer, the quotations may bounce off the support line, thus developing the uptrend. The goal of the growth is near the next resistance level of 1.1955. However, the pair may still go don to 1.1760.

USDJPY, “US Dollar vs. Japanese Yen”

On H4, the currency pair keeps working off an inverted Hammer. Currently, the pair keeps correcting by a sideways movement. We may expect the price to begin an uptrend after it escapes the flat. The goal of the uptrend is still near the resistance level at 107.00. However, the quotations may still pull back to the support level at 105.85.

EURGBP, “Euro vs. Great Britain Pound”

On H4, the pair returned inside the borders of the descending channel. The pair keeps working off an inverted Hammer, heading for the upper border of the channel. The aim of current growth is the resistance level of 0.9020, where the pair may finish the correction in the downtrend. However, the price may still decline to 0.8930 without testing the upper border of the ascending channel.

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.