Japanese Candlesticks Analysis 20.05.2019 (EURUSD, USDJPY)
EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, EURUSD is trading downwards. After testing the channel’s upside border, the pair formed Engulfing pattern; right now, it is falling towards 1.1133. Possibly, later the price may rebound from this level and start a new pullback to reach 1.1154.
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, USDJPY is trading upwards. The pair has tested the channel’s upside border and formed Shooting Star pattern; right now, it is falling. It may be assumed that the price may reach 109.69, unless there is a reversal candlestick, which may indicate a new rising movement.
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.