Japanese Candlesticks Analysis 11.01.2023 (EURUSD, USDJPY, EURGBP)

By RoboForex.com

EURUSD, “Euro vs US Dollar”

On H4, at the resistance level, the pair has formed a Harami reversal pattern. Currently, the pair may go by the signal in the form of a correctional wave. The goal of the pullback might be 1.0700. However, the price may grow to 1.0820, break through it, and continue the uptrend without any correction.

USDJPY, “US Dollar vs Japanese Yen”

On H4, the currency pair has formed a Hammer reversal pattern. Currently, the pair may go by the pattern in an ascending wave. The goal of the growth might be 133.10. However, the price may drop to 131.00 and continue the downtrend without correcting to the resistance level.

EURGBP, “Euro vs Great Britain Pound”

On H4, the pair has formed a new Inverted Hammer pattern. Currently, the pair is going by the signal in the form of an ascending wave. The goal of the growth might be the resistance level of 0.8890. Upon testing it and breaking through it, the price will get the chance to continue the uptrend. However, the quotes may pull back to 0.8800 before 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.