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Japanese Candlesticks Analysis 05.07.2023 (EURUSD, USDJPY, EURGBP)

japanese-candlesticks-analysis-0507.2023-(eurusd,-usdjpy,-eurgbp)

EURUSD, “Euro vs US Dollar”

EURUSD has formed an Engulfing reversal pattern by the support level on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could be 1.0945. However, the price might correct to 1.0845 and continue the uptrend after the test of the support.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has formed a Shooting Star reversal pattern on H4. Currently, the instrument is going by the reversal signal in a descending wave. The correction target could be 144.00. However, the price might rise to 145.40 and continue the uptrend without any correction to the support.

EURGBP, “Euro vs Great Britain Pound”

EURGBP has formed a Harami reversal pattern on H4. Currently, the instrument might go by the reversal signal in an ascending wave. The correction target could be 0.8580. Upon testing it and rebounding from it, the price might get a chance to continue the downtrend. However, the price might drop to 0.8540 without any correction.

Source: Roboforex

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