Japanese Candlestick Analysis for 12.08.2021 (EURUSD, USDJPY, EURGBP)

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

On H4, at the support level, the pair has formed several reversal patterns, including a Hammer and an Inverted Hammer. Going by the patterns, the price might start growing with the aim of 1.1780. After a bounce off the resistance level, the quotations might continue declining. However, the quotations might continue falling to 1.1700 without pulling back to the resistance level.

USDJPY, “US Dollar vs Japanese Yen”

On H4, pulling back at the support level, the pair has formed several reversal patterns, including a Harami. Going by the patterns, the pair may keep on developing an uptrend. The aim of growth is 111.00. However, the pair may equally go on correcting to 110.20, skipping the signals altogether.

EURGBP, “Euro vs Great Britain Pound”

On H4, at the support level, the pair has formed several reversal patterns, including a Dodji and a Hammer. Going by the signal right now might end up in a correctional impulse. The aim of the pullback is 0.8520. Testing the resistance level and bouncing off it, the quotations might return to the downtrend. However, the price may just go down to 0.8440 skipping the patterns.

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.