Japanese Candlesticks Analysis 20.12.2018 (EURUSD, USDJPY)
EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, EURUSD is testing the resistance level and forming Engulfing, Shooting Star, and Doji reversal patterns. Judging by the previous movements, at the moment it may be assumed that after testing the level the instrument may be corrected and then continue moving to the upside.
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, USDJPY has broken the resistance level and formed several Engulfing, Hammer, and Doji reversal patterns. Judging by the previous movements, at the moment it may be assumed that after completing the pullback the instrument may continue its ascending tendency.
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.