Japanese Candlesticks Analysis 04.12.2023 (EURUSD, USDJPY, EURGBP)
EURUSD, “Euro vs US Dollar”
EURUSD has formed a Hammer reversal pattern near the support level on H4. Currently, the instrument could go by the reversal signal in an ascending wave. The growth target might be the resistance at 1.0970. However, the price could correct to 1.0825 and continue the uptrend after testing the support.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has formed a Harami reversal pattern on H4. Currently, the instrument could go by the reversal signal in an ascending wave. The pullback target might be 147.25. However, the price could drop to 146.00 without any correction.
EURGBP, “Euro vs Great Britain Pound”
EURGBP has formed an Engulfing reversal pattern on H4. Currently, the instrument could go by the reversal signal in an ascending wave. The growth target might be 0.8590. Upon testing the level and rebounding from it, the price could continue the downtrend. However, the quotes could drop to 0.8540 without any correction.
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.