Japanese Candlesticks Analysis 08.02.2024 (EURUSD, USDJPY, EURGBP)
EURUSD, “Euro vs US Dollar”
EURUSD has formed a Hammer reversal pattern near the support level on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The correction target might be the resistance at 1.0830. However, the price could drop to 1.0715 and extend the downtrend without testing the resistance.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has formed a Doji reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target might be 149.80. However, the price could correct to 148.00 and extend the uptrend upon pulling back to the support.
EURGBP, “Euro vs Great Britain Pound”
EURGBP has formed a Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The correction target might be 0.8555. Upon testing the level and rebounding from it, the price could continue the downtrend. However, the quotes might drop to 0.8510 without testing the resistance.
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.