Japanese Candlesticks Analysis 11.09.2023 (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 pullback target could be the resistance level of 1.0760. However, the price might drop to 1.0680 and continue the downtrend without any correction.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has formed a Shooting Star reversal pattern on H4. Currently, the instrument is going by the reversal signal in a descending wave. The correction target could be 145.40. However, the price might rise to 147.25 and continue the uptrend without testing the support.
EURGBP, “Euro vs Great Britain Pound”
EURGBP has formed a Shooting Star reversal pattern. Currently, the instrument might go by the reversal signal in a descending wave. The correction target could be 0.8550. Upon testing it and rebounding from it, the price could continue the uptrend. However, the quotes might rise to 0.8600 without testing the support.
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.