Japanese Candlesticks Analysis 07.06.2023 (EURUSD, USDJPY, EURGBP)
EURUSD, “Euro vs US Dollar”
EURUSD has formed a Harami reversal pattern on H4 near the support level. Currently, the pair might go by the reversal signal in an ascending wave. The correction target could be the resistance level of 1.0720. However, the price might drop to 1.0620 and continue the downtrend without testing the resistance.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has formed a Shooting Star reversal pattern on H4. The instrument is now going by the reversal signal in a descending wave. The correction target could be 138.50. However, the price might rise to 141.00 and continue the uptrend without correcting to the support.
EURGBP, “Euro vs Great Britain Pound”
EURGBP has formed a Hammer reversal pattern on H4. The instrument is now going by the reversal signal in an ascending wave. The pullback target might again be 0.8625. Upon testing this level and rebounding from it, the price might continue the downtrend. However, the quotes could drop to 0.8555 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.