Japanese Candlesticks Analysis 20.03.2023 (EURUSD, USDJPY, EURGBP)
EURUSD, “Euro vs US Dollar”
On H4, near the support, EURUSD has formed a Hammer reversal pattern. Currently, the pair can go by the reversal signal in an ascending wave. The target for the growth might be 1.0725. However, the price might pull back to 1.0650 and continue the uptrend after testing the support.
USDJPY, “US Dollar vs Japanese Yen”
On H4, USDJPY has formed a Hammer reversal pattern. Currently, the pair can go by the reversal signal in an ascending wave. The target for the growth might be 132.60. However, the price may still drop to 130.70 and continue the downtrend after the support breaks.
EURGBP, “Euro vs Great Britain Pound”
On H4, EURGBP has formed an Inverted Hammer reversal pattern. Currently, the pair can go by the reversal signal in an ascending wave. The target for the growth might be the resistance level of 0.8785. After this level gets tested and breaks, the price might continue the uptrend. Meanwhile, the quotes may drop to 0.8740 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.