rfxsignals April 24, 2020 No Comments

Japanese Candlesticks Analysis 24.04.2020 (EURUSD, USDJPY, EURGBP)

24.04.2020

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, EURUSD is testing the support level, where it has formed several reversal patterns, such as Inverted Hammer. We may assume that later the price may rebound from the support level. In this case, the upside target may be at 1.0850. At the same time, there is another scenario, which implies that the price may continue falling to reach 1.0670 without any corrections.

EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, the pair is still trading inside the horizontal channel. In general, the current market situation isn’t changing much. Probably, the price may continue trading sideways in the nearest future. The downside target remains at 107.05, while the upside one is at 109.00.

USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

EURGBP, “Euro vs. Great Britain Pound”

As we can see in the H4 chart, after returning to the support level, EURGBP continues trading sideways and forming reversal patterns, such as Hammer. We may assume that later the pair may rebound from the support level once again. In this case, the upside target may be at 0.8850. Still, one shouldn’t exclude an opposite scenario, which implies that the instrument may break the support level and resume falling to reach the downside target at 0.8660.

EURGBP