Japanese Candlesticks Analysis

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.

29.04.2019

Japanese Candlesticks Analysis 29.04.2019 (EURUSD, USDJPY)

As we can see in the H4 chart, EURUSD has completed a slight pullback at the support level and formed Hammer, Inverted Hammer, and Harami reversal patterns.
26.04.2019

Japanese Candlesticks Analysis 26.04.2019 (USDCAD, AUDUSD)

As we can see in the H4 chart, USDCAD is testing the resistance level and forming Hanging Man and Shooting Star reversal patterns.
25.04.2019

Japanese Candlesticks Analysis 25.04.2019 (GOLD, NZDUSD)

As we can see in the H4 chart, XAUUSD is still testing the support level and forming Hammer and Harami reversal patterns.
24.04.2019

Japanese Candlesticks Analysis 24.04.2019 (EURUSD, USDJPY)

As we can see in the H4 chart, EURUSD has completed a slight pullback at the support level and formed Hammer and Harami reversal patterns.
23.04.2019

Japanese Candlesticks Analysis 23.04.2019 (USDCAD, AUDUSD)

As we can see in the H4 chart, USDCAD is still trading close to the support level and forming Hammer and Engulfing reversal patterns.
22.04.2019

Japanese Candlesticks Analysis 22.04.2019 (GOLD, NZDUSD)

As we can see in the H4 chart, XAUUSD is testing another support level and forming Hammer, Doji, and Inverted Hammer reversal patterns.
19.04.2019

Japanese Candlesticks Analysis 19.04.2019 (EURUSD, USDJPY)

As we can see in the H4 chart, EURUSD has completed a slight pullback and formed Hammer, Doji, and Inverted Hammer reversal patterns.
18.04.2019

Japanese Candlesticks Analysis 18.04.2019 (USDCAD, AUDUSD)

As we can see in the H4 chart, after completing Shooting Star and Harami reversal patterns, AUDUSD has finished another correction from the resistance level.