Japanese Candlesticks Analysis 07.12.2017 (EUR/USD, USD/JPY)

December 7, 2017

Article By RoboForex.com

EUR USD, “Euro vs. US Dollar”

After reaching the support level, the EUR/USD pair has formed several Hammer and Inverted Hammer patterns. These reversal patterns are very unlikely to make the price reverse. However, they may result is a slight correction, which may later be followed by a further decline towards the next support level at 1.1731.



Get our Weekly Commitment of Traders Report: - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.

Get Our Free Metatrader 4 Indicators - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter

USD JPY, “US Dollar vs. Japanese Yen”

As we can see at the H4 chart, the USD/JPY pair has formed a slight correction with several Inverted Hammer and Harami patterns. These patterns indicate that the correction is over and the instrument may start moving to the upside to update its closest highs.



RoboForex Analytical Department

Article By RoboForex.com

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.