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.
23.01.2019
Japanese Candlesticks Analysis 23.01.2019 (GOLD, NZDUSD)
As we can see in the H4 chart, XAUUSD has rebounded from the support level and formed Hammer, Inverted Hammer, and Harami reversal patterns.
22.01.2019
Japanese Candlesticks Analysis 22.01.2019 (EURUSD, USDJPY)
As we can see in the H4 chart, EURUSD is testing the support level and forming Harami, Engulfing, and Inverted Hammer reversal patterns.
21.01.2019
Japanese Candlesticks Analysis 21.01.2019 (USDCAD, AUDUSD)
As we can see in the H4 chart, USDCAD is trading near the support level and forming Hammer, Doji, and Inverted Hammer reversal patterns.
18.01.2019
Japanese Candlesticks Analysis 18.01.2019 (GOLD, NZDUSD)
As we can see in the H4 chart, XAUUSD is still testing the resistance level again and forming Shooting Star, Doji, and Hanging Man reversal patterns.
17.01.2019
Japanese Candlesticks Analysis 17.01.2019 (EURUSD, USDJPY)
As we can see in the H4 chart, EURUSD is testing the support level and forming Harami, Hammer, and Inverted Hammer reversal patterns.
16.01.2019
Japanese Candlesticks Analysis 16.01.2019 (USDCAD, AUDUSD)
As we can see in the H4 chart, USDCAD is trading near the support level and forming Hammer, Doji, and Inverted Hammer reversal patterns.
15.01.2019
Japanese Candlesticks Analysis 15.01.2019 (GOLD, NZDUSD)
As we can see in the H4 chart, XAUUSD is still testing the resistance level again and forming Shooting Star, Doji, and Hanging Man reversal patterns.
14.01.2019
Japanese Candlesticks Analysis 14.01.2019 (EURUSD, USDJPY)
As we can see in the H4 chart, EURUSD has tested the resistance level with Shooting Star and Engulfing reversal patterns and then completed the correction.