Japanese Candlesticks Analysis 30.10.2019 (EURUSD, USDJPY)

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, the ascending channel continues. By now, EURUSD has completed Engulfing reversal pattern close to the channel’s downside border. Later, after reversing, the price may return inside the channel and continue growing to reach 1.1206. However, one shouldn’t exclude a possibility that the price may continue falling towards 1.1080.

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, USDJPY continues moving upwards. By now, it has formed Hammer reversal pattern near the support level. Later, the pair may reverse and resume growing towards 109.35 to continue forming the ascending tendency. At the same time, the pair may choose another scenario and start a new decline to reach 108.30.