Japanese Candlesticks Analysis 29.05.2018 (EURUSD, USDJPY)

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, EURUSD has reached another low and formed several Hammer, Inverted Hammer, and Harami reversal patterns. Judging by the previous movements, at the moment it may be assumed that the price may continue its decline despite the above-mentioned reversal patterns.

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, USDJPY is testing the support level and forming Hammer reversal patterns. Judging by the previous movements, at the moment it may be assumed that the instrument may form several more reversal patterns and then resume its growth.

RoboForex Analytical Department