Japanese Candlesticks Analysis 16.11.2023 (EURUSD, USDJPY, EURGBP)
EURUSD, "Euro vs US Dollar"
EURUSD has formed a Shooting Star reversal pattern near the resistance level on H4. Currently, the instrument is going by the reversal signal in a descending wave. The correction target could be the support level of 1.0800. However, the price might rise to 1.0910 and continue the uptrend without testing the support level.
USDJPY, "US Dollar vs Japanese Yen"
USDJPY has formed a Hammer reversal pattern at a pullback on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target might be 152.10. However, the price could correct to 151.10 and continue the uptrend upon testing the support.
EURGBP, "Euro vs Great Britain Pound"
EURGBP has formed a Shooting Star reversal pattern on H4. Currently, the instrument might go by the reversal signal in a descending wave. The correction target could be 0.8720. Upon testing and breaking it, the price might extend the uptrend. However, the quotes could rise to 0.8770 without correcting to the support.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.