Japanese Candlesticks Analysis 23.12.2019 (EURUSD, USDJPY)
EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, the ascending channel continues. Aby now, EURUSD has formed Harami reversal pattern close to the channel’s downside border. We may assume that later the price may test the support level and get back to 1.1155 to continue the ascending tendency. However, one shouldn’t exclude a possibility that the price may continue falling towards 1.1055.
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, the pair continues trading in the middle of the rising channel. It has completed Hanging Man pattern and right now is reversing. Later USDJPY may resume falling towards 108.88 to test the downside border. At the same time, the pair may choose another scenario and start a new growth to reach 109.06.
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.