Japanese Candlesticks Analysis 29.08.2023 (EURUSD, USDJPY, EURGBP)
EURUSD, “Euro vs US Dollar”
EURUSD has formed a Gravestone Doji reversal pattern near the resistance level on H4. Currently, the instrument is going by the reversal signal in a descending wave. The decline target might be the support at 1.0775. However, the price could rise to 1.0850 and continue the downtrend after the correction.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has formed a Shooting Star reversal pattern on H4. Currently, the instrument might go by the reversal signal in a descending wave. The pullback target could be 145.55. However, the price might rise to 147.30 and continue the uptrend 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 pullback target could be 0.8550. Upon testing the level and rebounding from it, the price might continue the uptrend. However, the quotes could rise to 0.8600 without testing 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.