Japanese Candlesticks Analysis 31.07.2023 (EURUSD, USDJPY, EURGBP)
EURUSD, “Euro vs US Dollar”
EURUSD has formed a Hammer reversal pattern near the support level on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target might be the resistance at 1.1130. However, the quotes could correct to 1.0960 and continue the uptrend after the pullback.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY 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 143.00. However, the price might pull back to 140.50 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 could go by the reversal signal in an ascending wave. The growth target could be 0.8620. Upon testing and breaking it, the price might continue the uptrend. However, the quotes could pull back to 0.8545 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.