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.
07.02.2019
Japanese Candlesticks Analysis 07.02.2019 (EURUSD, USDJPY)
As we can see in the H4 chart, EURUSD is trading close to the support level and forming Inverted Hammer reversal pattern.
06.02.2019
Japanese Candlesticks Analysis 06.02.2019 (USDCAD, AUDUSD)
As we can see in the H4 chart, USDCAD has reached another support level and formed several Hammer, Engulfing, Harami, and Inverted Hammer reversal patterns.
05.02.2019
Japanese Candlesticks Analysis 05.02.2019 (GOLD, NZDUSD)
As we can see in the H4 chart, XAUUSD has rebounded from the resistance level and formed Hanging Man, Doji, Harami, and Shooting Star reversal patterns.
04.02.2019
Japanese Candlesticks Analysis 04.02.2019 (EURUSD, USDJPY)
As we can see in the H4 chart, EURUSD is trading close to the resistance level and forming Hanging Man, Engulfing, and Shooting Star reversal patterns.
01.02.2019
Japanese Candlesticks Analysis 01.02.2019 (USDCAD, AUDUSD)
As we can see in the H4 chart, USDCAD has reached another support level and formed several Hammer, Harami, and Inverted Hammer reversal patterns.
31.01.2019
Japanese Candlesticks Analysis 31.01.2019 (GOLD, NZDUSD)
As we can see in the H4 chart, XAUUSD has broken the resistance level and formed Hanging Man and Shooting Star reversal patterns.
30.01.2019
Japanese Candlesticks Analysis 30.01.2019 (EURUSD, USDJPY)
As we can see in the H4 chart, EURUSD has reached the resistance level and formed Harami, Engulfing, and Shooting Star reversal patterns.
29.01.2019
Japanese Candlesticks Analysis 29.01.2019 (USDCAD, AUDUSD)
As we can see in the H4 chart, USDCAD is still trading near the support level; it has completed another pullback and formed several Long-Legged Doji and Engulfing reversal patterns.