Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

EUR/USD, USD/JPY, EUR/GBP: Japanese Candlesticks Analysis

Published 08/18/2020, 03:45 AM
Updated 07/09/2023, 06:32 AM

1. EUR/USD

As we can see in the H4 chart, the uptrend continues. By now, after forming a "Hanging Man" pattern not far from the resistance level, EUR/USD is expected to start reversing. Considering the current bullish dynamics, the price may form a slight pullback towards the rising channel’s downside border and then resume trading upwards to reach the next resistance level at 1.1970. At the same time, an alternative scenario implies that the instrument may continue falling to return to 1.1830.
EURUSD

2. USD/JPY 

As we can see in the H4 chart, USD/JPY is moving towards the support level. The current situation implies that after rebounding from the level the market may resume trading upwards to reach the next resistance area at 106.75. Still, there is an opposite scenario, which says that the instrument may break the support level and continue falling towards 105.25.
USDJPY

3. EUR/GBP 

As we can see in the H4 chart, the pair is still moving inside the rising channel. By now, after finishing several reversal patterns, including "Doji", EUR/GBP has started reversing. The correctional target is at 0.9000. Later, the price may resume moving upwards. However, there might be another scenario, according to which the asset may grow towards 0.9100 without reversing.
EURGBP

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

Latest comments

thanks bro
Nice one. most of them matched what I had done earlier on meaning I'm improving on my fx analysis. Thanks
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.