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.
16.07.2018
Japanese Candlestick Analysis for GOLD and NZDUSD: July 16, 2018
On H4, the gold is again forming reversal patterns after bouncing off a support.
13.07.2018
Japanese Candlesticks Analysis 13.07.2018 (EURUSD, USDJPY)
As we can see in the H4 chart, EURUSD continues growing and forming slight pullbacks from time to time with Hammer and Inverted Hammer reversal patterns.
12.07.2018
Japanese Candlesticks Analysis 12.07.2018 (USDCAD, AUDUSD)
As we can see in the H4 chart, USDCAD continues falling; from time to time, it stops near support levels and forms Hammer, Doji, and Inverted Hammer reversal patterns.
11.07.2018
Japanese Candlesticks Analysis 11.07.2018 (GOLD, NZDUSD)
As we can see in the H4 chart, after rebounding from the support level, XAUUSD has formed several Hammer, Doji, and Inverted Hammer reversal patterns.
10.07.2018
Japanese Candlesticks Analysis 10.07.2018 (EURUSD, USDJPY)
As we can see in the H4 chart, EURUSD continues growing and forming slight pullbacks at the same time.
09.07.2018
Japanese Candlesticks Analysis 09.07.2018 (AUDUSD, USDCAD)
As we can see in the H4 chart, USDCAD has rebounded from the resistance level. Right now, the pair is falling; from time to time, it stops near support levels and forms Hammer and Inverted Hammer reversal patterns, which do not confirm a reverse.
06.07.2018
Japanese Candlesticks Analysis 06.07.2018 (GOLD, NZDUSD)
As we can see in the H4 chart, after rebounding from the support level, XAUUSD has formed several Harami, Hammer, and Inverted Hammer reversal patterns.
05.07.2018
Japanese Candlesticks Analysis 05.07.2018 (EURUSD, USDJPY)
As we can see in the H4 chart, while moving sideways and forming slight pullbacks and Hammer, Engulfing, and Doji reversal patterns, EURUSD has reached the resistance level once again.