Japanese Candlesticks Analysis 15.04.2021 (EURUSD, USDJPY, EURGBP)

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

As we can see in the H4 chart, the asset is still correcting within the uptrend. While testing the resistance area, the pair has formed several reversal patterns, including Hanging Man. At the moment, EURUSD may reverse and form a pullback towards the support area. In this case, the correctional target may be at 1.1920. However, an alternative scenario implies that the price may continue growing to reach 1.1204 without testing the support area.

USDJPY, “US Dollar vs Japanese Yen”

As we can see in the H4 chart, USDJPY has formed several reversal patterns, such as Harami and Doji, while testing the support level. Judging by the previous movements, one may assume that the asset may reverse and start a new correction. In this case, the upside correctional target may be the resistance area at 109.50. At the same time, an opposite scenario implies that the price may fall towards 108.55 without reversing and correcting.

EURGBP, “Euro vs Great Britain Pound”

As we can see in the H4 chart, the asset continues trading close to the channel’s upside border. After forming several reversal patterns there, such as Shooting Star and Harami, EURGBP may reverse and fall to reach the support level. In this case, the correctional target may be at 0.8630. Still, there might be an alternative scenario, according to which the asset may grow to reach 0.8750 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.