Japanese Candlesticks Analysis 15.03.2024 (EURUSD, USDJPY, EURGBP)
EURUSD, “Euro vs US Dollar”
EURUSD has formed a Hammer reversal pattern near the support level on H4. Currently, the instrument could go by the reversal signal in an ascending wave. The growth target could be the resistance at 1.0930. However, the price could correct to 1.0850 and maintain its upward trajectory after a pullback.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has formed a Shooting Star reversal pattern on H4. Currently, the instrument might go by the reversal signal in a descending wave. The correction target could be the 147.75 mark. However, the price could rise to 149.50 and continue its upward momentum without pulling back to the support.
EURGBP, “Euro vs Great Britain Pound”
EURGBP has formed a Hanging Man reversal pattern on H4. Currently, the instrument is going by the reversal signal in a descending wave. The correction target could be 0.8530. After testing this level and rebounding from it, the price might continue the uptrend. However, the quotes could rise to 0.8560 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.