Japanese Candlesticks Analysis 19.09.2023 (EURUSD, USDJPY, EURGBP)

By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD has formed a Hammer reversal pattern on H4 near the support level. Currently, the instrument is going by the reversal signal in an ascending wave. The pullback target could be the resistance level of 1.0720. However, the price could drop to 1.0625 and continue the downtrend without testing the resistance.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has formed a Hanging Man reversal pattern on H4. Currently, the instrument is going by the reversal signal in a descending wave. The pullback target might be 147.45. However, the price could rise to 148.50 and continue the uptrend without testing the support.

EURGBP, “Euro vs Great Britain Pound”

EURGBP has formed an Inverted Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could be 0.8655. Upon testing and breaking this level, the price could continue the uptrend. However, the quotes might correct to 0.8610 before rising.

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.