Japanese Candlesticks Analysis 16.08.2018 (EURUSD, USDJPY)
EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, EURUSD has formed several Inverted Hammer, Hammer, Doji, and Engulfing reversal patterns. At the moment, it may be assumed that the instrument may try start a new rising tendency.
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, USDJPY is trading close to the support level and forming Inverted Hammer, Hammer, and Harami reversal patterns. Judging by the previous movement, it may be assumed that the instrument may complete the correction and start a new ascending tendency.
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.