Japanese Candlesticks Analysis 30.09.2021 (EURUSD, USDJPY, EURGBP)

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

As we can see in the H4 chart, the asset has formed several reversal patterns, including Hammer, not far from the support level. At the moment, EURUSD may reverse and start a new pullback. In this case, the correctional target may be at 1.1665. Later, the market may rebound from the resistance area and resume trading downwards. However, an alternative scenario implies that the price may continue falling to reach 1.1545 without any corrections.

USDJPY, “US Dollar vs Japanese Yen”

As we can see in the H4 chart, USDJPY has formed a several reversal patterns, for example, Shooting Star, close to the resistance area. At the moment, USDJPY is reversing and may start a new pullback within the uptrend. In this case, the correctional target may be at 111.45. At the same time, an opposite scenario implies that the price may continue growing to reach 112.34 without any corrections.

EURGBP, “Euro vs Great Britain Pound”

As we can see in the H4 chart, after forming a Shooting Star pattern near the resistance level, EURGBP may reverse in the form of a new pullback. In this case, the correctional target may be at 0.8600. Later, the market may test the support area, rebound from it, and resume the ascending tendency. Still, there might be an alternative scenario, according to which the asset may continue growing without any corrections towards the support area.

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.