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.
EURUSD is preparing to grow; USDJPY is testing the resistance level, EURGBP is getting ready to grow.
USDCAD is winding up a correction; AUDUSD is continuing a wave of growth, USDCHF is testing the support level.
GOLD continues correction; NZDUSD is developing a wave of growth, GBPUSD continues a pullback.
EURUSD is developing a wave of growth; USDJPY continues correcting, EURGBP is preparing to grow.
USDCAD is forming a correction; AUDUSD is forming a wave of decline, USDCHF is testing the support level.
GOLD is forming a correction; NZDUSD is developing a wave of growth, GBPUSD continues its pullback.
EURUSD is testing the support level; USDJPY is developing a wave of decline, EURGBP is getting ready to grow.
USDCAD continues correcting; AUDUSD is forming a wave of growth, USDCHF is testing the support level.