Japanese Candlesticks Analysis 06.06.2018 (EURUSD, USDJPY)
EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, EURUSD has reached another low and completed the correction with several Shooting Star and Engulfing reversal patterns at the top. At the moment, it may be assumed that the correction is over and the price may resume its decline.
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, USDJPY is testing the support level and forming Doji, Engulfing, and Hammer reversal patterns. Judging by the previous movements, at the moment it may be assumed that in the short-term the instrument may start a new uptrend.
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.