Japanese Candlesticks Analysis 23.03.2023 (ERUSD, USDJPY, EURGBP)
EURUSD, “Euro vs US Dollar”
On H4, near the support level, the pair has formed a Hammer reversal pattern. Currently, the instrument is going by the reversal signal in an ascending wave. The target for the growth might be 1.0955. However, the price might pull back to 1.0870 and continue the uptrend after correcting to the support.
USDJPY, “US Dollar vs Japanese Yen”
On H4, the pair has formed a Hammer reversal pattern. Currently, the instrument may go by the reversal signal in an ascending wave. The target for the pullback might be 131.90. However, the price might drop to 130.00 and continue the downtrend without correcting to the resistance.
EURGBP, “Euro vs Great Britain Pound”
On H4, the pair has formed an Engulfing reversal pattern. Currently, the instrument may go by the reversal signal in a descending wave. The target for the pullback might be the support level of 0.8835. Upon testing it and pushing off it, the price might continue the uptrend. However, the price might grow to 0.8900 without any correction.
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.