Japanese Candlesticks Analysis 24.08.2023 (EURUSD, USDJPY, EURGBP)
EURUSD, “Euro vs US Dollar”
EURUSD has formed an Engulfing reversal pattern near the support level on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The correction target could be the resistance level at 1.0915. However, the price could drop to 1.0815 and continue its downward movement 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 could be 146.40. However, the price could pull back to 144.50 and continue its upward movement after testing the support level.
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 could be 0.8580. Upon testing and breaking it, the price could continue the uptrend. However, the quotes could pull back to 0.8525 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.