Japanese Candlesticks Analysis 12.03.2024 (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 growth target could be the resistance at 1.0980. However, the quotes might correct to 1.0910 and extend the uptrend after the pullback.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has formed a Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could be the 148.60 mark. However, the quotes might correct to 146.65 and extend the uptrend after the pullback 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 growth target could be the 0.8550 mark. Upon testing and breaking this level, the price might extend the uptrend. However, the quotes could correct to 0.8520 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.