Japanese Candlesticks Analysis 01.03.2024 (EURUSD, USDJPY, EURGBP)
EURUSD, “Euro vs US Dollar”
EURUSD has formed an Inverted Hammer reversal pattern near the support level on H4. Currently, the instrument could go by the reversal signal in an ascending wave. The growth target might be the resistance at 1.0860. However, the price could pull back to the 1.0775 level and extend the uptrend after the correction.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has formed a Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target might be 151.30. However, the market could correct to the 149.90 level and extend the uptrend after the pullback to the support.
EURGBP, “Euro vs Great Britain Pound”
EURGBP has formed a Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target might still be the 0.8580 mark. Upon testing and breaking this level, the price could extend the uptrend. However, the quotes might correct to 0.8550 before rising.
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.