Japanese Candlesticks Analysis 06.03.2024 (EURUSD, USDJPY, EURGBP)
EURUSD, “Euro vs US Dollar”
EURUSD has formed a Shooting Star reversal pattern near the resistance level on H4. Currently, the instrument might go by the reversal signal in a descending wave. The correction target could be the support at 1.0835. However, the price might rise to 1.0890 and extend the uptrend without any correction.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has formed a Hammer reversal pattern on H4. Currently, the instrument might go by the reversal signal in an ascending wave. The growth target could be the 151.10 level. However, the quotes might correct to 149.35 and extend the uptrend after the pullback to the support level.
EURGBP, “Euro vs Great Britain Pound”
EURGBP has formed a Hammer reversal pattern on H4. Currently, the instrument might go by the reversal signal in an ascending wave. The growth target could be the 0.8560 level. Upon testing and breaking the level, the price might extend the uptrend. However, the quotes could correct to 0.8530 before rising.
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.