Japanese Candlesticks Analysis 26.03.2020 (EURUSD, USDJPY, EURGBP)

March 26, 2020

Article By RoboForex.com

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, the pair continues the correction within the descending tendency; by now, EURUSD has formed several reversal candlestick patterns, such as Hammer, not far from the support level. At the moment, EURUSD is reversing. We may assume that later the price may correct to reach 1.1050. However, one shouldn’t exclude a possibility that the price may continue falling towards 1.0550 without testing 1.1050.

EURUSD
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, USDJPY is still recovering after the fall. Right now, the pair continues testing the resistance level, where it has formed several reversal patterns, such as Doji, Hanging Man, and Long-Legged Doji. Possibly, the price may reverse and reach 108.00. The current situation implies that after finishing the correction the price may grow towards the target at 113.60.

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 finishing the correction within the rising tendency and then testing the support level, EURGBP has formed an Engulfing reversal pattern there. At the moment, the pair is reversing. We may assume that later the market may start a new growth towards 0.9490 and continue the ascending tendency. However, one shouldn’t exclude an opposite scenario, which implies that the instrument may continue falling with the target at 0.9055.

EURGBP

Article By RoboForex.com

Attention!
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.