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Japanese Candlesticks Analysis 09.10.2019 (EURUSD, USDJPY)

9 october 2019 - Fx4News

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, the descending channel continues. At the moment, the pair continues trading close to the channel’s upside border and forming reversal patterns, including Harami. Later, the price may rebound and resume falling to reach 1.0888. However, one shouldn’t exclude a possibility that the price may break the resistance level and continue growing towards 1.1022.

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, after breaking the descending channel’s downside border, the pair has formed Hammer pattern close to the horizontal support level. Right now, USDJPY is reversing and may later continue growing to return to 108.55. However, we shouldn’t ignore an opposite scenario, according to which the instrument may fail to reverse and then start a new decline to reach 106.30.

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

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