Japanese Candlesticks Analysis 22.10.2019 (EURUSD, USDJPY)
EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, the ascending channel continues. By now, EURUSD has completed Shooting Star reversal pattern close to the channel’s upside border. Later, after reversing, the price may form a new correction and then resume growing to reach 1.1206. However, one shouldn’t exclude a possibility that the price may continue falling towards 1.1081.
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, USDJPY has formed Hammer reversal pattern while trading close to the support level. Right now, the pair is reversing and may later continue growing to reach 109.14. After that, the instrument may start a new pullback and then resume 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.