Japanese Candlesticks Analysis
Japanese candlesticks analysis is one of the classic tools for analyzing the currency market. It is believed that Japanese candlestick charts are much more informative and clearer than linear ones. That is why they are preferred by most modern investors. The most important candlestick components here are the open, the close, the high, and the low. The color of candlesticks, black or white, depends on the ration between the security price when the candlestick opened and closed.
Japanese candlesticks, unlike any other technical indicators, allow traders to analyze the behavior of the price itself, rather than the results of mathematical calculations. Below are the daily Japanese candlestick forecasts from RoboForex experts.
14.01.2019
Japanese Candlesticks Analysis 14.01.2019 (EURUSD, USDJPY)
As we can see in the H4 chart, EURUSD has tested the resistance level with Shooting Star and Engulfing reversal patterns and then completed the correction.
11.01.2019
Japanese Candlesticks Analysis 11.01.2019 (USDCAD, AUDUSD)
As we can see in the H4 chart, USDCAD is still trading close to the support level and forming Hammer, Doji, and Inverted Hammer reversal patterns.
10.01.2019
Japanese Candlesticks Analysis 10.01.2019 (GOLD, NZDUSD)
As we can see in the H4 chart, NZDUSD is trading near the resistance level and forming Hanging Man and Shooting Star reversal patterns.
09.01.2019
Japanese Candlesticks Analysis 09.01.2019 (EURUSD, USDJPY)
As we can see in the H4 chart, USDJPY has completed another correction from the support level; right now, it is forming Doji, Shooting Star, and Hanging Man reversal patterns.
08.01.2019
Japanese Candlesticks Analysis 08.01.2019 (USDCAD, AUDUSD)
As we can see in the H4 chart, USDCAD is still trading close to the support level and forming Hammer reversal patterns.
07.01.2019
Japanese Candlesticks Analysis 07.01.2019 (GOLD, NZDUSD)
As we can see in the H4 chart, XAUUSD has broken another resistance level, formed Shooting Star and Harami reversal patterns, and then completed one more correction.
28.12.2018
Japanese Candlesticks Analysis 28.12.2018 (EURUSD, USDJPY)
As we can see in the H4 chart, EURUSD is testing the resistance level once again and forming Shooting Star reversal patterns.
27.12.2018
Japanese Candlesticks Analysis 27.12.2018 (USDCAD, AUDUSD)
As we can see in the H4 chart, AUDUSD is still trading close to the support level and forming Hammer, Harami, Doji, and Inverted Hammer reversal patterns.