Japanese Candlestick Analysis 11.11.2021 (EURUSD, USDJPY, EURGBP)
EURUSD, “Euro vs US Dollar”
On H4, at the support level, the pair has formed several reversal patterns, including a Long-Legged Doji. Currently, going by the signals, the quotations can start an ascending momentum. The aim of growth is 1.1520. After a bounce off the resistance level, the quotations can continue the downtrend. However, the quotations can fall to 1.1420 without correcting to the resistance level.
USDJPY, “US Dollar vs Japanese Yen”
On H4, testing the resistance level, the quotations formed several reversal patterns, including a Shooting Star. Currently, going by the signals, the quotations can form one more descending momentum. The goal of the decline is 113.40. However, the price can grow to 114.25 before falling.
EURGBP, “Euro vs Great Britain Pound”
On H4, at a pullback, near the support level, the pair has formed several reversal patterns, including an Engulfing. Going by the signals now, the quotations can start another wave of growth. The aim is 0.8620. Testing the resistance level and breaking through it, the price can continue the uptrend. However, the quotations can drop to 0.8535 before continuing growth.
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.