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.
19.02.2019
Japanese Candlesticks Analysis 19.02.2019 (USDCAD, AUDUSD)
As we can see in the H4 chart, USDCAD is still trading close to the resistance level and forming Harami and Doji reversal patterns.
18.02.2019
Japanese Candlesticks Analysis 18.02.2019 (GOLD, NZDUSD)
As we can see in the H4 chart, XAUUSD has once again reached the resistance level and formed several Shooting Star and Hanging Man reversal patterns.
15.02.2019
Japanese Candlesticks Analysis 15.02.2019 (EURUSD, USDJPY)
As we can see in the H4 chart, EURUSD is still trading close to the support level and forming Hammer, Inverted Hammer, and Harami reversal patterns.
14.02.2019
Japanese Candlesticks Analysis 14.02.2019 (USDCAD, AUDUSD)
As we can see in the H4 chart, USDCAD is still trading close to the resistance level and forming Hanging Man and Shooting Star reversal patterns.
13.02.2019
Japanese Candlesticks Analysis 13.02.2019 (GOLD, NZDUSD)
As we can see in the H4 chart, XAUUSD is still trading close to the resistance level; it has already formed several Doji, Hammer, and Harami reversal patterns.
12.02.2019
Japanese Candlesticks Analysis 12.02.2019 (EURUSD, USDJPY)
As we can see in the H4 chart, EURUSD is trading close to the support level and forming Inverted Hammer and Harami reversal patterns.
11.02.2019
Japanese Candlesticks Analysis 11.02.2019 (USDCAD, AUDUSD)
As we can see in the H4 chart, USDCAD has reached another resistance level and formed several Hanging Man and Harami reversal patterns.
08.02.2019
Japanese Candlesticks Analysis 08.02.2019 (GOLD, NZDUSD)
As we can see in the H4 chart, XAUUSD is still being corrected from the resistance level; it has already formed several Hammer and Harami reversal patterns.