Japanese Candlesticks Analysis 06.02.2023 (EURUSD, USDJPY, EURGBP)
EURUSD, “Euro vs US Dollar”
On H4, at the support level, the pair has formed an Inverted Hammer reversal pattern. Now the pair can go by the reversal signal in an ascending wave. The goal of the growth might still be 1.0930. However, the pair may pull back to 1.0715, bounce off it and continue the uptrend after the correction.
USDJPY, “US Dollar vs Japanese Yen”
On H4, the pair has formed a Hanging Man reversal pattern. Now the pair can go by the reversal signal in a descending wave. The goal of the pullback might be 131.00. However, the price may go to 133.00 and continue the uptrend without any correction.
EURGBP, “Euro vs Great Britain Pound”
On H4, the pair has formed a Harami reversal pattern. Now the pair can go by the reversal signal in a descending wave. The goal of the pullback might be the support level of 0.8915. Upon testing it and bouncing off it, the price might get a chance to continue the uptrend. However, the quotes may grow to 0.8990 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.