Japanese Candlesticks Analysis 07.09.2022 (EURUSD, USDJPY, EURGBP)
EURUSD, “Euro vs US Dollar”
On H4, the pair has formed a reversal Hammer pattern at the support level. The pair can now go by the signal forming an ascending impulse. The goal of the correction might become 0.9965. However, the price may still fall to 0.9835, break through the level, and continue falling without pulling back to the resistance level.
USDJPY, “US Dollar vs Japanese Yen”
On H4, the pair has formed a reversal Engulfing pattern at a pullback. Currently, the pair is going by the pattern forming an ascending impulse. The goal of growth is 145.30. However, the price may still pullback to 142.50 and then continue the uptrend upon returning to the support level.
EURGBP, “Euro vs Great Britain Pound”
On H4, the pair has formed a Harami reversal pattern at a pullback near the support level. Going by the pattern, the pair may currently form an ascending impulse. The goal of growth might remain the resistance level of 0.8685. Upon testing it and breaking through it, the pair will have a chance to continue the uptrend. However, the quotes may correct to 0.8595 before continuing growth.
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.