Japanese Candlesticks Analysis 12.11.2019 (EURUSD, USDJPY)

12.11.2019

EURUSD, “Euro vs. US Dollar”

The H4 chart shows a new descending tendency. After forming several reversal patterns, such as Doji, EURUSD is trading close to the channel’s downside border. We may assume that later the price may reverse and then resume growing to reach 1.1110 in order to continue the descending channel. However, one shouldn’t exclude a possibility that the price may continue falling towards 1.1011.

EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, the ascending tendency continues. After completing the correction, USDJPY has already formed another reversal pattern, Doji, in the middle of the channel. Later, the pair may reverse and resume growing towards the channel’s upside border at 109.65 to continue forming the ascending tendency. At the same time, the pair may choose another scenario and start a new decline to reach 108.65.

USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Attention!

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.