Japanese Candlesticks Analysis 28.12.2023 (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 might go by the reversal signal in a descending wave. The correction target could be the support level of 1.1080. However, the price might rise to 1.1175 and continue the uptrend without testing the support.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has formed a Hammer reversal pattern on H4. Currently, the instrument might go by the reversal signal in an ascending wave. The correction target could be 142.30. However, the quotes might drop to 140.35 and continue 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 a descending wave. The correction target could be 0.8655. Upon testing the level and rebounding from it, the price might contiue the uptrend. However, the price might rise to 0.8715 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.