Japanese Candlesticks Analysis 18.10.2018 (EURUSD, USDJPY)

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, EURUSD is still testing the support level and forming Hammer, Doji, and Engulfing reversal patterns. Judging by the previous movements, at the moment it may be assumed that these patterns won’t probably conform the reverse and the instrument will continue trading downwards.

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, USDJPY is testing the support level and forming Doji, Hammer, and Inverted Hammer reversal patterns. Judging by the previous movements, at the moment it may be assumed that after completing the correction, the instrument may continue its ascending tendency.