Japanese Candlesticks Analysis 10.03.2020 (EURUSD, USDJPY, EURGBP)
EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, the pair continues growing. By now, EURUSD has completed several reversal candlestick patterns, such as Shooting Star, close to the resistance level. Right now, the pair is still reversing. We may assume that later the price may move to reach 1.1250. However, one shouldn’t exclude a possibility that the price may continue growing without any pullbacks towards 1.1250.
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, the fundamental background made USDJPY fall. After testing the support level, the price has formed several reversal patterns, including Hammer. Right now, the pair is reversing. The current situation implies that the price may grow to reach 107.10. At the same time, the pair may choose another scenario, according to which the instrument is expected to continue falling towards 101.20 after a slight correction.
EURGBP, “Euro vs. Great Britain Pound”
As we can see in the H4 chart, after testing the resistance level again, EURGBP has formed several reversal patterns, such as Shooting Star. Right now, the pair is reversing. At the moment, we may assume that later the market may form a new pullback towards 0.8645. However, one shouldn’t exclude an opposite scenario, which implies that the instrument may continue the rising tendency with the target at 0.8800.