Japanese Candlesticks Analysis 17.10.2017 (EUR/USD, GBP/USD)
EUR USD, “Euro vs. US Dollar”
At the H4 chart, the EUR/USD formed the descending channel with Hammer, Doji, and Engulfing reversal patterns to define its borders. By now, the price has been corrected again towards the resistance level at 1.1875. At the moment, the instrument is falling and forming Engulfing patterns during pullbacks. The predicted target is the support level at 1.1689.
GBP USD, “Great Britain Pound vs US Dollar”
At the H4 chart, the GBP/USD pair formed Hanging Man, Engulfing, Doji, and Shooting Star reversal patterns to define the borders of the descending channel. By now, the price has broken resistance level and started forming the ascending channel with Hanging Man, Hammer, Doji, Engulfing, Long-Legged Doji, and Shooting Star patterns.
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