Japanese Candlesticks Analysis 16.11.2022 (EURUSD, USDJPY, EURGBP)
EURUSD, “Euro vs US Dollar”
On H4, at the resistance level the pair has formed a Shooting Star reversal pattern. Currently, the pair may go by the signal in a correctional wave. The goal of the decline will be 1.0311. However, the price may still continue the uptrend with our correcting to the support level.
USDJPY, “US Dollar vs Japanese Yen”
On H4, at the support level, the pair has formed a Hammer reversal pattern. Currentlt, the pair may go by the signal in an ascending wave. The goal of the correction will be 141.55. However, the price may fall to 138.00 and continue the downtrend without correcting to the resistance level.
EURGBP, “Euro vs Great Britain Pound”
On H4, the pair has formed a Hammer reversal pattern. Currently, the pair may go by the signal in a yet another ascending wave. The goal of the growth may be the resistance level of 0.8800. Upon testing and breaking through it, the pair has a chance for continuing the uptrend. However, the quotes may drop to 0.8705 before growing to 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.