Japanese Candlesticks Analysis 10.03.2023 (EURUSD, USDJPY, EURGBP)
EURUSD, “Euro vs US Dollar”
On H4, near the support level, the EURUSD has formed an Inverted Hammer reversal pattern. The pair may now go by the reversal pattern in an ascending wave. The target of the growth might be 1.0615. However, the price might drop to 1.0535 and continue the downtrend without testing the resistance level.
USDJPY, “US Dollar vs Japanese Yen”
On H4 the USDJPY has formed an Inverted Hammer reversal pattern. The pair may now go by the reversal pattern in an ascending wave. The target of the growth might be 137.85. However, the price may still pull back to 135.90 and continue the uptrend after a test of the support level.
EURGBP, “Euro vs Great Britain Pound”
On H4 the EURGBP has formed an Inverted Hammer reversal pattern. The pair may now go by the reversal pattern in an ascending wave. The target of the growth might be the resistance level of 0.8925. After the level gets tested and breaks, the price might continue the uptrend. However, the quotes may drop to 0.8855 before growing.
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.