Japanese Candlesticks Analysis 30.03.2021 (EURUSD, USDJPY, EURGBP)

Article By RoboForex.com

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, the asset continues moving downwards. While testing the support area, the pair has formed several reversal patterns, including Doji and Hammer. At the moment, EURUSD may reverse and form a pullback towards the resistance area. In this case, the correctional target may be at 1.1825. However, an alternative scenario implies that the price may continue falling to reach 1.1717 without reversing and correcting.

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, USDJPY has formed several reversal patterns, such as Harami, while testing the support level. Judging by the previous movements, one may assume that the asset may reverse and resume moving upwards. In this case, the upside target is the resistance area at 110.60. At the same time, an opposite scenario implies that the price may fall to return to 109.25 before resuming the ascending tendency.

EURGBP, “Euro vs. Great Britain Pound”

As we can see in the H4 chart, the asset continues trading close to the support level. After forming several reversal patterns there, such as Hammer, EURGBP may rebound from the support level and form a slight pullback. In this case, the correctional target may be the resistance area at 0.8600. Still, there might be an alternative scenario, according to which the asset may return to 0.8500 without reversing and correcting.

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.