Japanese Candlesticks Analysis 31.03.2023 (EURUSD, USDJPY, EURGBP)
EURUSD, “Euro vs US Dollar”
On H4, near the resistance, EURUSD has formed a Shooting Star reversal pattern. Currently, the instrument is going by the reversal signal in a descending wave. The target for the correction might be 1.0850. However, the price may grow to 1.0950 and continue the uptrend without any correction to the support.
USDJPY, “US Dollar vs Japanese Yen”
On H4, USDJPY has formed a Harami reversal pattern. Currently, the instrument could go by the reversal signal in a descending wave. The target for the decline could be 131.70. However, the price may grow to 139.90 and continue the downtrend after the correction to the resistance.
EURGBP, “Euro vs Great Britain Pound”
On H4, EURGBP has formed an Engulfing reversal pattern. The instrument is now going by the reversal signal in an ascending wave. The target for the correction might be the resistance at 0.8820. Upon testing and rebounding from the level, the price might continue the downtrend. However, the quotes may drop to 0.8770 without the test of the resistance.
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.