Japanese Candlesticks Analysis 25.03.2024 (EURUSD, USDJPY, EURGBP)
EURUSD, “Euro vs US Dollar”
EURUSD has formed a Hammer reversal pattern on H4. Currently, the instrument could go by the reversal signal in an ascending wave. The growth target might be the resistance at 1.0865. However, the quotes could correct to 1.0790 and extend the uptrend after the pullback.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has formed a Hanging Man reversal pattern on H4. Currently, the instrument is going by the reversal signal in a descending wave. The correction target might be 150.00. However, the quotes could rise to 151.90 and extend the uptrend without any correction to the support.
EURGBP, “Euro vs Great Britain Pound”
EURGBP has formed a Shooting Star reversal pattern on H4. Currently, the instrument is going by the reversal signal in a descending wave. The correction target might be 0.8565. Upon testing the level and rebounding from it, the price could extend the uptrend. However, the price might rise to 0.8600 without testing the support.
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.