Japanese Candlestick Analysis for 08.11.2021 (EURUSD, USDJPY, EURGBP)

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

On H4, near the support level, the pair has formed several reversal candlestick patterns, including a Hammer and an Engulfing. At this stage, going by the pattern, the pair might start an upward momentum. The aim of growth is 1.1610. After a breakaway of the resistance level, the pair can continue with the uptrend. However, the quotations might pull back to 1.1510 before continuing growth.

USDJPY, “US Dollar vs Japanese Yen”

On H4, the quotations are testing the resistance level and have formed several reversal patterns, including a Doji. At this stage, going by the patterns, the quotations can start a correction. The aim of the pullback is 114.25. However, the quotations might drop to 112.95 without a pullback to the resistance level.

EURGBP, “Euro vs Great Britain Pound”

On H4, at the resistance level, the pair has formed several reversal patterns, including an Engulfing. Currently, going by the signals, the quotations might start a correction. The aim of the pullback is 0.8540. Testing the support level and bouncing off it, the price might continue an uptrend. However, the quotations might grow to 0.8620 without any correction to the support level.

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.