Japanese candlesticks analysis is one of the classic tools for analyzing the currency market. It is believed that Japanese candlestick charts are much more informative and clearer than linear ones. That is why they are preferred by most modern investors. The most important candlestick components here are the open, the close, the high, and the low. The color of candlesticks, black or white, depends on the ration between the security price when the candlestick opened and closed.
Japanese candlesticks, unlike any other technical indicators, allow traders to analyze the behavior of the price itself, rather than the results of mathematical calculations. Below are the daily Japanese candlestick forecasts from RoboForex experts.
USDCAD is forming a descending wave; AUDUSD continues the uptrend, USDCHF goes on declining.
GOLD is testing the support level; NZDUSD is forming a wave of growth, GBPUSD is preparing to continue an uptrend.
EURUSD is testing the support level; USDJPY is getting ready for a correction, EURGBP is developing a correctional wave.
USDCAD is forming a correction; AUDUSD is testing the support level, USDCHF is continuing correction.
GOLD is testing the resistance level; NZDUSD is forming a correctional wave, GBPUSD is getting ready for a correction.
EURUSD is getting ready to grow; USDJPY continues a flat, EURGBP is developing a wave of growth.
USDCAD is forming a correction; AUDUSD continues a wave of decline, USDCHF is developing a correction.
GOLD continues the uptrend; NZDUSD is developing a correctional wave, GBPUSD is getting ready to grow.