Japanese Candlesticks Analysis 12.06.2024 (EURUSD, USDJPY, EURGBP)
EURUSD, “Euro vs US Dollar”
EURUSD has formed a Hammer reversal pattern near the support level on H4. At this stage, the instrument might follow the reversal signal in an ascending wave. The growth target could be the 1.0785 resistance level. However, the price might correct towards 1.0720 and continue its upward momentum after a pullback.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has formed a Hammer reversal pattern on H4. The instrument is currently following the reversal signal in an ascending wave. The growth target could be the 158.00 mark. However, the price might correct to 156.70 and maintain its upward trajectory after pulling back to the support level.
EURGBP, “Euro vs Great Britain Pound”
EURGBP has formed a Hammer reversal pattern on H4. At this stage, the instrument might follow the reversal signal in an ascending wave. The target for correction could be the 0.8451 mark. After testing this level and rebounding, the price might continue the downtrend. However, the quotes could fall to 0.8400 without testing the resistance level.
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.