Japanese Candlesticks Analysis 04.06.2024 (EURUSD, USDJPY, EURGBP)
EURUSD, “Euro vs US Dollar”
EURUSD has formed a Harami reversal pattern near the resistance level on H4. At this stage, the instrument might follow the reversal signal in a descending wave. The correction target could be 1.0880. However, the price might rise towards 1.0960 and continue its upward momentum without a correction.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has formed a Doji reversal pattern on H4. At this stage, the instrument might follow the reversal signal in an ascending wave. The growth target could be the 157.90 mark. However, the price might correct to 155.45 and maintain its upward trajectory after pulling back to the support level.
EURGBP, “Euro vs Great Britain Pound”
EURGBP has formed a Hammer reversal pattern on H4. The instrument is currently following the reversal signal in an ascending wave. The target for correction could be the 0.8535 mark. After testing this level and rebounding, the price might continue the downtrend. However, the quotes could fall to 0.8485 without testing 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.