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Japanese Candlesticks Analysis : EUR/USD, USD/JPY, EUR/GBP

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EUR/USD: As we can see in the H4 chart, the uptrend continues. By now, after forming an “Engulfing” pattern not far from the support level, EUR/USD is reversing. Considering the current bullish dynamics, the price may continue trading upwards to reach the resistance level at 1.1990. At the same time, an alternative scenario implies that the instrument may continue falling to return to 1.1830.
EURUSDEURUSD

USD/JPY: As we can see in the H4 chart, after forming a “Hammer” pattern and reversing, USD/JPY is moving towards the support level. The current situation implies that after rebounding from the level the market may resume trading upwards to reach the resistance area at 106.70. Still, there is an opposite scenario, which says that the instrument may break the support level and continue falling towards 105.15.
USDJPYUSDJPY
EUR/GBP: As we can see in the H4 chart, the pair is once again testing the support level. After finishing several reversal patterns, including “Inverted Hammer”, EUR/GBP has started reversing. The upside target is at 0.9040. Later, the price may continue moving upwards. However, there might be another scenario, according to which the asset may fall towards 0.8960 without reversing.
EURGBPEURGBP

Disclaimer: 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.

Japanese Candlesticks Analysis : EUR/USD, USD/JPY, EUR/GBP

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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