Japanese Candlesticks Analysis 28.05.2020 (EURUSD, USDJPY, EURGBP)
EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, after growing towards the resistance level and forming a Shooting Star pattern, EURUSD is not expected to reverse. We may assume that after a slight correction the price may continue growing towards 1.1075.
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, after re-testing the resistance level and forming a Harami pattern, USDJPY has started to reverse. The current situation implies that after a slight correction the market may break the resistance level and continue moving upwards. In this case, the upside target may be 108.40. However, there might be another scenario according to which the instrument may fall and return to 107.50.
EURGBP, “Euro vs. Great Britain Pound”
As we can see in the H4 chart, the pair is testing the resistance level again. After forming a Shooting Star pattern, EURGBP is reversing. The correctional target is at 0.8935. After that, the instrument may continue the ascending tendency. In this case, the upside target may be at 0.9055.
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.