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Analysis

Japanese Candlesticks Analysis 16.02.2022 (EURUSD, USDJPY, EURGBP)

EURUSD, “Euro vs US Dollar”

As we can see in the H4 chart, the asset has formed a Hammer reversal pattern close to the support level. At the moment, EURUSD is reversing and may form a new rising impulse. In this case, the upside target m…

EURUSD, “Euro vs US Dollar”

As we can see in the H4 chart, the asset has formed a Hammer reversal pattern close to the support level. At the moment, EURUSD is reversing and may form a new rising impulse. In this case, the upside target may be at 1.1510. However, an alternative scenario implies that the price may correct to reach 1.1295 first and then resume trading upwards.

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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, USDJPY has formed an Engulfing reversal pattern not far from the support level. At the moment, USDJPY is reversing and may start a new growth towards the resistance area. In this case, the upside target may be at 116.60. At the same time, an opposite scenario implies that the price may correct to reach 115.35 before resuming its uptrend.

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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 forming several reversal patterns, for example, Hammer, near the support level, EURGBP is reversing and may start another growth towards the resistance area. In this case, the upside target may be at 0.8420. Later, the market may test the area, break it, and continue the ascending tendency. Still, there might be an alternative scenario, according to which the asset may fall to reach 0.8360 before resuming its growth.

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EURGBP

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

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