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Japanese Candlesticks Analysis 15.11.2019 (EURUSD, USDJPY)

15 november 2019 - Fx4News

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, the descending tendency continues. After forming several reversal patterns, such as Hammer, EURUSD is trading close to the channel’s downside border. We may assume that later the price may reverse and then resume growing to reach 1.1070 in order to continue the descending channel. However, one shouldn’t exclude a possibility that the price may continue falling towards 1.0965.

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 ascending tendency continues. By now, USDJPY has formed another reversal pattern, Hammer, close to the channel’s downside border. Later, the pair may reverse and resume growing towards 109.32 to continue forming the ascending tendency. At the same time, the pair may choose another scenario and start a new decline to reach 108.10.

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

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