Japanese Candlesticks Analysis 02.12.2022 (EURUSD, USDJPY, EURGBP)
EURUSD, “Euro vs US Dollar”
On H4, at the resistance level, the pair has formed a Shooting Star reversal pattern. Currently, the pair may go by the signal in a correctional wave. The goal of the pullback will be 1.0435. However, the pair might grow to 1.0650, break through the level, and continue the uptrend without any correction to the support level.
USDJPY, “US Dollar vs Japanese Yen”
On H4, at the support level, the pair has formed an Inverted Hammer reversal pattern. Currently, the pair may go by the signal in the form of an ascending wave. The goal of the correction will be 136.65. However, the price might fall to 134.00 and continue the downtrend without any correction to the resistance level.
EURGBP, “Euro vs Great Britain Pound”
On H4, the pair has formed a Hammer reversal pattern. Currently, the pair may go by the signal in yet another ascending wave. The goal of the growth can be the resistance level of 0.8655. Upon testing it and bouncing off it, the price will get a chance for continuing the downtrend. However, the quotes may drop to 0.8570 without pulling back to the resistance level.
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.