Japanese Candlesticks Analysis 16.11.2018 (EURUSD, USDJPY)
EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, EURUSD has formed several Hammer, Harami, and Inverted Hammer reversal patterns and right now is still trading upwards from the support level. Judging by the previous movements, at the moment it may be assumed that the instrument may test the level and then continue moving to the upside.
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, USDJPY is still testing the resistance level and forming Hanging Man, Harami, Doji, and Shooting Star reversal patterns. Judging by the previous movements, at the moment it may be assumed that after testing the level the instrument may continue its ascending tendency.
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.