Japanese Candlesticks Analysis 10.09.2019 (EURUSD, USDJPY)

September 10, 2019

Article By RoboForex.com

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, after completing Hammer pattern and rebounding from the descending channel’s downside border, EURUSD has formed several reversal patterns at the horizontal resistance level, including Shooting Star. Later, the price may finish the correction and fall to reach 1.1093, thus continuing forming the descending channel. However, one shouldn’t exclude a possibility that the price may continue growing towards 1.1100.

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

USDJPY, “US Dollar vs. Japanese Yen”

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

As we can see in the H4 chart, the pair is moving downwards. USDJPY has formed Shooting Star reversal pattern close to the channel’s upside border. Right now, it is trying to reverse. Judging by the previous movements, it may be assumed that after finishing the correction the price may continue growing to reach 107.77 and then rebound towards 106.12 to continue forming the descending channel.


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.