29 Apr

Japanese Candlesticks Analysis 29.04.2022 (EURUSD, USDJPY, EURGBP)

April 29, 2022

EURUSD, “Euro vs US Dollar”

As we can see in the H4 chart, the asset has formed a Harami reversal pattern close to the support area. At the moment, EURUSD is reversing in the form of a new correctional impulse. In this case, the upside correctional target may be at 1.0575. However, an alternative scenario implies that the price may fall to reach 1.0420 and continue the descending tendency without any corrections towards the resistance level.

USDJPY, “US Dollar vs Japanese Yen”

As we can see in the H4 chart, USDJPY has formed a Hanging Man pattern not far from the resistance level. At the moment, the asset is reversing in the form of a new descending impulse. In this case, the downside correctional target may be at 129.90. At the same time, an opposite scenario implies that the price may grow to reach 132.50 and continue the uptrend without any pullbacks.

Free Reports:

Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.

Download Our Metatrader 4 Indicators – Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter

EURGBP, “Euro vs Great Britain Pound”

As we can see in the H4 chart, after forming a Shooting Star reversal pattern near the resistance area, EURGBP is reversing and correcting. In this case, the downside correctional target may be at 0.8395. Later, the market may test the support level, rebound from it, and resume the ascending impulse. Still, there might be an alternative scenario, according to which the asset may grow to reach 0.8475 and continue the uptrend without testing 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.

Latest Financial Markets News:

Financial News Forex and Currency News

Risk Disclosure: Foreign Currency trading and trading on margin carries a high level of risk and can result in loss of part or all of your investment. Due to the level of risk and market volatility, Foreign Currency trading may not be suitable for all investors and you should not invest money you cannot afford to lose. Before deciding to invest in the foreign currency exchange market you should carefully consider your investment objectives, level of experience, and risk appetite. You should be aware of all the risks associated with foreign currency exchange trading, and seek advice from an independent financial advisor should you have any doubts.

All information and opinions on this website are for general informational purposes only and do not constitute investment advice.

InvestMacro

Japanese Candlesticks Analysis 29.04.2022 (EURUSD, USDJPY, EURGBP)