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.
05.06.2020
EURUSD has reached another resistance level; USDJPY is breaking the resistance area, while EURGBP is correcting within the rising tendency.
04.06.2020
USDCAD continues falling towards the support level; AUDUSD is correcting within the rising tendency, while USDCHF continues testing the support level.
03.06.2020
GOLD is correcting within the uptrend; NZDUSD continues trading upwards, while GBPUSD is testing the rising channel’s upside border.
02.06.2020
EURUSD is still testing the resistance level; USDJPY continues trading sideways, while EURGBP is correcting within the rising tendency.
01.06.2020
USDCAD continues falling towards the support level; AUDUSD is still moving upwards, while USDCHF continues testing the support level area.
29.05.2020
GOLD is finishing the correction within the uptrend; NZDUSD continues trading upwards, while GBPUSD is testing another resistance level.
28.05.2020
EURUSD continues trading within the rising tendency; USDJPY is testing the resistance level again, while EURGBP is correcting not far from the resistance area.
27.05.2020
Both USDCAD and USDCHF are rebounding from their respective support levels, while AUDUSD is testing another resistance area.