Japanese Candlesticks Analysis 10.12.2020 (EURUSD, USDJPY, EURBGP)
EURUSD, “Euro vs US Dollar”
On H4, the pair keeps correcting in the ascending dynamics. The pair returned into the borders of the channel and at the support level formed several reversal candlestick patterns, including a Doji. Currently, the reversal patterns can drive the price into another ascending impulse. The aim of the growth is 1.2200. Then the pair might go on with the uptrend.
USDJPY, “US Dollar vs Japanese Yen”
On H4, the quotations tested the upper border of the descending channel and broke through the resistance level. The ascending impulse might be aiming at 104.65. However, the quotations might still return into the channel without testing 104.65. The downtrend might be aiming at the support level of 103.60.
EURGBP, “Euro vs Great Britain Pound”
On H4, the quotations keep developing ascending dynamics. At the horizontal support level, the pair has formed several reversal patterns, including a Hammer. Currently, the reversal patterns can drive the quotations into further development of the ascending dynamics. The aim of the growth is currently 0.9130. However, judging by the previous dynamics, the quotations might pull back to 0.8995.
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.