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.
08.08.2019
GOLD continues moving within the ascending tendency, while NZDUSD is again testing the resistance line inside the ascending channel.
07.08.2019
EURUSD is testing the descending channel’s upside border again; USDJPY continues testing the horizontal support line after breaking the descending channel’s downside border.
06.08.2019
USDCAD continues testing the resistance line within the ascending channel, while AUDUSD is still falling and forming the descending channel.
05.08.2019
GOLD continues moving within the ascending tendency, while NZDUSD is again testing the support line inside the ascending channel.
02.08.2019
EURUSD is once again testing the descending channel’s downside border, while USDJPY is testing the horizontal support line after breaking the descending channel’s downside border.
01.08.2019
USDCAD is testing the resistance line within the ascending channel, while AUDUSD is still falling and forming the descending channel.
31.07.2019
GOLD is still rebounding from the support level within the ascending tendency, while NZDUSD is again testing the support line inside the ascending channel.
30.07.2019
EURUSD is once again testing the horizontal support line, while USDJPY is rebounding from the resistance level within the downtrend.