Japanese Candlesticks Analysis 30.07.2020 (EURUSD, USDJPY, EURGBP)

July 30, 2020

Article By RoboForex.com

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, the asset is correcting within the ascending tendency. After forming a Harami pattern not far from the resistance level, EURUSD has started reversing. Considering the current bullish dynamics, the price may form a slight pullback towards the rising channel’s upside border and then resume trading upwards to reach the next resistance level at 1.1845. At the same time, an alternative scenario implies that the instrument may continue falling to return to 1.1645.

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, after testing another support level and forming a Hammer pattern, USDJPY has started reversing. The current situation implies that after a slight correction the market may resume trading downwards to reach the next support level at 104.60. Still, there is an opposite scenario, which says that the instrument may grow towards 105.70.

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, the pair is still moving inside the rising channel. By now, after finishing a Hammer pattern, EURGBP has started reversing. The upside target is at 0.9135. Later, the price may continue moving upwards to update the highs. However, there might be another scenario, according to which the asset may fall towards 0.9025 before starting a new growth.

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.