Japanese Candlesticks Analysis 23.06.2020 (EURUSD, USDJPY, EURGBP)

23.06.2020

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, after forming a Shooting Star pattern close to the resistance level, EURUSD is expected to start reversing. The downside target remains at 1.1155. At the same time, there is another scenario, which implies that the price may continue trading upwards without testing the support level at 1.1155.

EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, USDJPY is still trading not far from the support area and forming reversal patterns, such as Hammer. At the moment, the pair is reversing. The current situation implies that the market may resume the ascending tendency towards 107.65. Still, there is an opposite scenario, which says that the instrument may break the support area and continue trading downwards to reach 106.45.

USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

EURGBP, “Euro vs. Great Britain Pound”

As we can see in the H4 chart, after testing the resistance level and forming a Harami pattern, EURGBP has reversed; right now, it is trading upwards. The upside target is at 0.9095. After that, the instrument may continue the ascending tendency. However, there might be another scenario according to which the instrument may fall and return to 0.9000.

EURGBP
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Attention!

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.