Japanese Candlesticks Analysis 25.12.2023 (EURUSD, USDJPY, EURGBP)
EURUSD, “Euro vs US Dollar”
EURUSD has formed a Hanging Man reversal pattern near the resistance level on H4. Currently, the instrument could go by the reversal signal in a descending wave. The correction target might be the support at 1.0965. However, the price could rise to 1.1070 and extend the uptrend without testing the support.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has formed a Hammer reversal pattern on H4. Currently, the instrument could go by the reversal signal in an ascending wave. The correction target might be 143.50. However, the price might drop to 141.10 and extend the downtrend without any correction.
EURGBP, “Euro vs Great Britain Pound”
EURGBP has formed a Shooting Star reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The correction target could be 0.8645. Upon testing it and rebounding from the level, the price might extend the uptrend. However, the quotes could rise to 0.8710 without pulling back 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.