Japanese Candlesticks Analysis 13.04.2023 (EURUSD, USDJPY, EURGBP)

By RoboForex.com

EURUSD, “Euro vs US Dollar”

On H4 near the resistance, EURUSD has formed a Harami reversal pattern. The instrument may now go by the reversal signal in a descending wave. The target for the correction might be 1.0935. However, the pair may grow to 1.1040 and continue the uptrend without testing the support.

USDJPY, “US Dollar vs Japanese Yen”

On H4, the pair has formed a Hammer reversal pattern. The instrument is now going by the reversal signal in an ascending wave. The target for the growth might be 134.10. However, the price may pull back to 132.70 and continue the uptrend after correcting to the support.

EURGBP, “Euro vs Great Britain Pound”

On H4, EURGBP has formed a Shooting Star reversal pattern. Currently, the instrument is going by the reversal signal in a descending wave. The target for the decline might be the support at 0.8770. Upon testing and breaking it, the price could continue the downtrend. However, the quotes may correct to 0.8815 before declining.

Article By RoboForex.com

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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.