Japanese Candlesticks Analysis 28.11.2019 (EURUSD, USDJPY)
EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, the descending tendency continues. After forming Shooting Star pattern, EURUSD has reversed and right now is still trading in the middle of the channel. We may assume that after finishing a slight correction the price may resume falling to reach 1.0950. However, one shouldn’t exclude a possibility that the price may continue growing towards 1.1057.
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, the ascending tendency continues. By now, USDJPY has formed another reversal pattern, Shooting Star. Later, the pair may reverse and start a slight correction, which may be followed by further growth towards 109.85 to continue forming the ascending tendency. At the same time, the pair may choose another scenario and start a new decline to reach 108.75.
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.