Japanese Candlesticks Analysis 15.12.2021 (EURUSD, USDJPY, EURGBP)

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

As we can see in the H4 chart, the asset has formed a Hammer reversal pattern close to the support level. At the moment, EURUSD may reverse and resume growing. In this case, the upside target may be at 1.1310. However, an alternative scenario implies that the price may fall to reach 1.1185 before resuming its ascending tendency.

USDJPY, “US Dollar vs Japanese Yen”

As we can see in the H4 chart, USDJPY has formed several reversal patterns, for example, Harami and Inverted Hammer. At the moment, USDJPY may reverse and start a new wave to the upside towards the resistance level. In this case, the upside target may be at 114.20. At the same time, an opposite scenario implies that the price may continue falling to reach 113.35 before resuming its growth towards the resistance level.

EURGBP, “Euro vs Great Britain Pound”

As we can see in the H4 chart, after forming a Harami reversal pattern near the support level, EURGBP is reversing and may start another growth towards the next resistance area. In this case, the upside target may be at 0.8580. Later, the market may test the area, break it, and continue the ascending tendency. Still, there might be an alternative scenario, according to which the asset may correct to reach 0.8490 before resuming its growth.

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.