Japanese Candlesticks Analysis 10.07.2018 (EURUSD, USDJPY)
EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, EURUSD continues growing and forming slight pullbacks at the same time. After breaking the resistance level, the pair has started another correction with Shooting Star and Engulfing reversal patterns. Judging by the previous movement, it may be assumed that the instrument may complete another pullback and then continue its ascending movement despite the above-mentioned reversal patterns.
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, USDJPY is once again being corrected from the resistance level and forming Hanging Man and Shooting Star reversal patterns. Judging by the previous movement, it may be assumed that the instrument may finish this pullback soon and then 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.