Japanese Candlesticks Analysis 21.08.2023 (EURUSD, USDJPY, EURGBP)
EURUSD, “Euro vs US Dollar”
EURUSD has formed a Hammer reversal pattern on H4 near the support level. Currently, the instrument could go by the reversal pattern in an ascending wave. The correction target might be the resistance level of 1.0945. However, the quotes might drop to 1.0820 and continue the downtrend without pulling back.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has formed a Harami reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target might be 146.60. However, the price might pull back to 144.50 and continue the uptrend after testing the support.
EURGBP, “Euro vs Great Britain Pound”
EURGBP has formed a Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target might be 0.8570. Upon testing and breaking this level, the price could continue the uptrend. However, the quotes might pull back to 0.8515 before rising.
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.