Japanese Candlesticks Analysis 21.11.2023 (EURUSD, USDJPY, EURGBP)
EURUSD, “Euro vs US Dollar”
EURUSD has formed a Shooting Star reversal pattern near the resistance level on H4. Currently, the instrument could go by the reversal signal in a descending wave. The correction target might be the support at 1.0910. However, the price could rise to 1.1000 and extend the uptrend without testing the support.
USDJPY, US Dollar vs Japanese Yen”
USDJPY has formed a Hammer reversal pattern on H4. Currently, the instrument could go by the reversal signal in an ascending wave. The growth target might be 148.30. However, the price could drop to 147.00 and continue the uptrend without testing the support.
EURGBP, “Euro vs Great Britain Pound”
EURGBP has formed a Shooting Star reversal pattern on H4. Currently, the instrument could go by the reversal signal in a descending wave. The correction target might be 0.8730. Upon testing this level and rebounding from it, the price could extend the uptrend. However, the quotes might rise to 0.8775 without correcting to 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.