Japanese Candlesticks Analysis 18.04.2024 (EURUSD, USDJPY, EURGBP)
EURUSD, “Euro vs US Dollar”
The EURUSD pair 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 correction target could be the resistance at 1.0730. However, the price might drop to 1.0615 and extend the downtrend without testing the resistance.
USDJPY, “US Dollar vs Japanese Yen”
The USDJPY pair 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 153.50. However, the price might rise to the 155.00 level and extend the uptrend without testing the support.
EURGBP, “Euro vs Great Britain Pound”
The EURGBP pair 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 0.8585. After testing and breaking this level, the price might extend the uptrend. However, the quotes could correct to 0.8555 before the rise.
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.