Japanese Candlesticks Analysis 02.07.2018 (EURUSD, USDJPY)
EURUSD, “Euro vs. US Dollar”
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. At the moment, it may be assumed that the above-mentioned patterns indicate that the instrument may continue its ascending movement.
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, after completing another slight correction from the resistance level, USDJPY has formed several Shooting Star and Hanging Man reversal patterns. Judging by the previous movement, it may be assumed that the instrument may continue trading to the upside.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.