Japanese Candlesticks Analysis 07.05.2024 (EURUSD, USDJPY, EURGBP)
EURUSD, “Euro vs US Dollar”
EURUSD has formed a Harami reversal pattern near the resistance level on H4. Currently, the instrument is going by the reversal signal in a descending wave. The decline target could be the 1.0670 support level. However, the price could pull back to 1.0800 and continue its downward momentum after testing the resistance.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has formed a Harami reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could be the 155.80 mark. However, the price could correct to 153.60 and maintain its upward trajectory after pulling back to the support level.
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 could be the 0.8600 mark. After testing this level and breaking above it, the price might continue the uptrend. However, the quotes could pull back to 0.8565 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.