Japanese Candlesticks Analysis 17.10.2019 (EURUSD, USDJPY)

October 17, 2019

Article By RoboForex.com

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, the ascending channel continues. By now, EURUSD has completed Harami reversal pattern close to the channel’s upside border. Later, after reversing, the price may form a new correction and then resume growing to reach 1.1111. However, one shouldn’t exclude a possibility that the price may continue falling towards 1.1010.

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

USDJPY, “US Dollar vs. Japanese Yen”

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As we can see in the H4 chart, after forming Doji reversal pattern, USDJPY is trading close to the resistance level. Right now, the pair is reversing and may later continue falling to return to 108.46. After that, the instrument may reverse and then start a new ascending tendency to reach 109.14.


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.