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.
20.09.2019
USDCAD is still reversing; after rebounding from the horizontal resistance level, AUDUSD is falling.
19.09.2019
GOLD is still trading close to the ascending channel’s downside border, while NZDUSD is testing the horizontal support level.
18.09.2019
EURUSD is back to the resistance line once again, while USDJPY is still forming the ascending tendency.
17.09.2019
USDCAD is still reversing, while AUDUSD has rebounded from the horizontal resistance level.
16.09.2019
GOLD is still trading close to the ascending channel’s downside border, while NZDUSD has rebounded from the horizontal resistance level.
13.09.2019
EURUSD is back to the resistance line, while USDJPY is trying to start a new ascending tendency.
12.09.2019
USDCAD is reversing, while AUDUSD continues trading close to the horizontal resistance level.
11.09.2019
GOLD is trading close to the ascending channel’s downside border, while NZDUSD has broken the descending channel’s upside border.