Japanese Candlesticks Analysis 13.02.2024 (EURUSD, USDJPY, EURGBP)
EURUSD, “Euro vs US Dollar”
EURUSD has formed a Harami reversal pattern near the support level on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The correction target might be the resistance at 1.0830. However, the price could drop to 1.0720 and extend the downtrend without testing the resistance.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has formed a Hanging Man reversal pattern on H4. Currently, the instrument might go by the reversal signal in a descending wave. The correction target could be 149.90. However, the quotes might rise to 150.50 and extend the uptrend without pulling back to the support.
EURGBP, “Euro vs Great Britain Pound”
EURGBP has formed a Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The correction target might be 0.8555. Upon testing the level and rebounding from it, the price could extend the downtrend. However, the quotes might drop to 0.8510 without testing the resistance.
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.