Technical Analysis by RoboForex

[RoboForex]

Forex Technical Analysis & Forecast 11.07.2018 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)
11.07.2018
EURUSD, “Euro vs US Dollar”

EURUSD is still trading downwards. Possibly, the pair may reach 1.1661 and then form a new ascending structure to continue the correction towards 1.1818 (an alternative scenario). According to the main scenario, the instrument may continue trading to the downside with the target at 1.1450.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD continues falling. Possibly, the pair may reach 1.3178 and then form another ascending structure towards 1.3375 to continue the correction (an alternative scenario). According to the main scenario, the instrument may continue trading downwards with the target at 1.3000.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is consolidating around 0.9925. If later the instrument breaks this range to the upside, the market may continue trading upwards to reach 1.0020; if to the downside – resume falling inside the downtrend with the target at 0.9850 (an alternative scenario). According to the main scenario, the price may continue trading to the upside with the target at 1.0100.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is trading downwards. Today, the price may reach 110.60 and then resume growing inside the uptrend towards 111.08. Later, the market may fall with the first target at 109.58.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has completed the consolidation range and broken it downwards. Possibly, today the pair may fall towards 0.7390 and then form another ascending structure to reach 0.7511 and continue the correction (an alternative scenario). According to the main scenario, the instrument may continue trading to the downside with the target at 0.7285.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB has reached 62.00. Today, the price may consolidate around this level. Later, the market may break this range downwards and continue trading to reach the short-term target at 60.00.

XAUUSD, “Gold vs US Dollar”

Gold has reached the correctional target and may extend the structure towards 1242.00. After that, the instrument may form a new ascending structure with the short-term target at 1270.00.

BRENT

Brent is still consolidating around 77.70. Today, the price may fall to reach 77.15 and then start another ascending structure. Later, the market may break this range to the upside and continue trading towards the short-term target at 80.52. The main target is at 82.00.

 

[RoboForex]

Ichimoku Cloud Analysis 12.07.2018 (AUDUSD, NZDUSD, USDCAD)
12.07.2018
AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.7385; the instrument is moving above Ichimoku Cloud, which means that it may continue growing. The markets could indicate that the price may test the upside border of the cloud at 0.7370 and then resume moving upwards to reach 0.7465. Another signal to confirm further ascending movement is the price’s rebounding from the support level. However, the scenario that Implies further growth may be cancelled if the price breaks the downside border of the cloud and fixes below 0.7360. In this case, the pair may continue falling towards 0.7270.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.6760; the instrument is moving inside Ichimoku Cloud, which means that it is moving sideways. The markets could indicate that the price may test the upside border of the cloud at 0.6800 and then continue moving downwards to reach 0.6685. Another signal to confirm further descending movement is the price’s rebounding from the resistance level. However, the scenario that implies further decline may be cancelled if the price breaks the upside border of the cloud and fixes above 0.6835. In this case, the pair may continue growing towards 0.6920.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.3199; the instrument is moving inside Ichimoku Cloud, which means that it is moving sideways. The markets could indicate that the price may test the downside border of the cloud at 1.3140 and then continue moving upwards to reach 1.3295. Another signal to confirm further ascending movement is the price’s rebounding from the support level. However, the scenario that implies further growth may be cancelled if the price breaks the downside border of the cloud and fixes below 1.3080. In this case, the pair may continue falling towards 1.3010.

 

[RoboForex]

Japanese Candlesticks Analysis 12.07.2018 (USDCAD, AUDUSD)
12.07.2018
USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, USDCAD continues falling; from time to time, it stops near support levels and forms Hammer, Doji, and Inverted Hammer reversal patterns. At the moment, the price is being corrected once again. Judging by the previous movements, it may be assumed that the instrument may finish the pullback, break the support level, and then continue falling.

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, AUDUSD keeps growing and forming several Doji, Hammer, and Engulfing reversal patterns during pullbacks. Judging by the previous movements, it may be assumed that the instrument may complete the correction and then continue moving upwards.

 

[RoboForex]

Murrey Math Lines 12.07.2018 (USDCHF, GOLD)
12.07.2018
USDCHF, “US Dollar vs Swiss Franc”

In the H4 chart, USDCHF is expected to continue growing to reach the resistance at the 8/8 level.

In the H1 chart, the pair is consolidating between the 3/8 and 5/8 levels. Later, the price may break the 5/8 level and then continue trading upwards to reach the resistance at the 8/8 one.

As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue moving upwards.

XAUUSD, “Gold vs US Dollar”

In the H4 chart, XAUUSD is trading inside the “oversold zone”. The price may rebound from the -1/8 level and resume growing towards the resistance at the 0/8 one.

In the H1 chart, the price may break the 2/8 level and then continue falling towards the support at the 0/8 one.

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[RoboForex]

Forex Technical Analysis & Forecast 12.07.2018 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)
12.07.2018
EURUSD, “Euro vs US Dollar”

EURUSD is still trading downwards; the target of this wave is at 1.1661. After that, the instrument may form a new ascending structure towards 1.1725 and then resume trading to the downside with the short-term target at 1.1600.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD continues falling. Possibly, the pair may reach 1.3140 and then form another ascending structure towards 1.3375 to continue the correction (an alternative scenario). According to the main scenario, the instrument may continue trading downwards with the target at 1.3000.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is moving upwards. Possibly, today the pair may break 0.9962 to the upside and then continue growing to reach 1.0020. After that, the instrument may start another decline to return to 0.9962 and then resume trading to the upside with the target at 1.0100.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is trading upwards. Today, the price may reach 112.54 and fall towards the first target at 110.25. The market is expected to start another descending wave to reach 106.80.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is moving downwards. Possibly, the pair may reach 0.7346 and then form another ascending structure towards 0.7380. Later, the market may resume trading to the downside with the target at 0.7285.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is still consolidating around 62.00. Today, the price may continue trading downwards to reach the short-term target at 60.60.

XAUUSD, “Gold vs US Dollar”

Gold has reached the downside target. Possibly, the pair may form a new ascending structure towards 1253.00. Later, the market may start another consolidation range near the lows. If later the instrument breaks this range to the upside, the price may continue trading upwards to reach 1268.00 or even continue the correction towards 1304.00.

BRENT

Brent has failed to fix above 76.30; it has broken the range downwards and reached the first target. Possibly, today the pair may return to 76.30 and then continue trading to the downside with the target at 72.80.

 

[RoboForex]

Fibonacci Retracements Analysis 13.07.2018 (BITCOIN, ETHEREUM)
13.07.2018
BTCUSD, “Bitcoin vs US Dollar”

As we can see in the H4 chart, BTCUSD has already been corrected to the upside by 23.6%. The next possible targets of this ascending correction are the retracements of 38.2% and 50.0% at 7350.00 and 7850.00 respectively. The support level is the low at 5750.00.

In the H1 chart, the divergence made the pair reverse and formed a new descending correction that completed at the retracement of 61.8%. Later, the instrument stared another correction to the upside, which has already reached the retracement of 23.6%. The next possible targets are the retracements of 38.2% and 50.0% at 6350.00 and 6437.00 respectively.

ETHUSD, “Ethereum vs. US Dollar”

As we can see in the H4 chart, ETHUSD is being corrected upwards and has already reached the retracement of 38.2%. The next upside targets are the retracements of 50.0% and 61.8% at 516.00 and 543.00 respectively. However, if the instrument breaks the low at 404.21, it may continue falling towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 372.00 and 353.00 respectively.

In the H1 chart, the convergence made ETHUSD reverse and start a new correction upwards, which has already reached the retracement of 23.6% and may continue towards the retracements of 38.2%, 50.0%, and 61.8% at 446.50, 455.70, and 464.70 respectively.

 

[RoboForex]

Japanese Candlesticks Analysis 13.07.2018 (EURUSD, USDJPY)
13.07.2018
EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, EURUSD continues growing and forming slight pullbacks from time to time with Hammer and Inverted Hammer reversal patterns. Judging by the previous movement, it may be assumed that the instrument may complete another pullback and then continue its ascending movement.

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, after breaking the resistance level, USDJPY is once again being corrected and forming Hanging Man and Shooting Star reversal patterns. Judging by the previous movement, it may be assumed that the instrument may finish this pullback soon and then continue trading to the upside.

 

[RoboForex]

Ichimoku Cloud Analysis 13.07.2018 (AUDUSD, NZDUSD, USDCAD)
13.07.2018
AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.7416; the instrument is moving above Ichimoku Cloud, which means that it may continue growing. The markets could indicate that the price may test the upside border of the cloud at 0.7400 and then resume moving upwards to reach 0.7465. However, the scenario that Implies further growth may be cancelled if the price breaks the downside border of the cloud and fixes below 0.7373. In this case, the pair may continue falling towards 0.7270. After breaking the channel’s upside border and fixing above 0.7500, the price may continue moving upwards.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.6768; the instrument is moving below Ichimoku Cloud, which means that it may continue falling. The markets could indicate that the price may test the downside border of the cloud at 0.6775 and then continue moving downwards to reach 0.6670. Another signal to confirm further descending movement is the price’s rebounding from the resistance level. However, the scenario that implies further decline may be cancelled if the price breaks the upside border of the cloud and fixes above 0.6835. In this case, the pair may continue growing towards 0.6920.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.3161; the instrument is moving inside Ichimoku Cloud, which means that it is moving sideways. The markets could indicate that the price may test the downside border of the cloud at 1.3120 and then continue moving upwards to reach 1.3280. Another signal to confirm further ascending movement is the price’s rebounding from the channel’s upside border. However, the scenario that implies further growth may be cancelled if the price breaks the downside border of the cloud and fixes below 1.3080. In this case, the pair may continue falling towards 1.3010.

 

[RoboForex]

Forex Technical Analysis & Forecast 13.07.2018 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)
13.07.2018
EURUSD, “Euro vs US Dollar”

EURUSD is consolidating near the lows. If later the instrument breaks this range to the downside, the price may continue trading downwards to reach 1.1550; if to the upside – form a new ascending structure with the target at 1.1725.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD continues falling. Possibly, the pair may reach 1.3140 and then form another ascending structure towards 1.3375 to continue the correction (an alternative scenario). According to the main scenario, the instrument may continue trading downwards with the target at 1.3000.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has broken 0.9985. Possibly, today the pair may fall to return to this level and then continue growing to reach the short-term target at 1.0067.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has almost competed one more ascending structure. Today, the price may consolidate near the highs, break the range downwards, and start another descending wave to reach the first target at 110.05.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is moving upwards to reach 0.7430. After that, the instrument may form another descending structure towards 0.7348 and then start another growth to reach 0.7520. Later, the market may resume trading to the downside with the target at 0.7285.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is still consolidating around 62.00. Today, the price may form a new ascending structure towards 62.50 and then fall to return to 61.50. After that, the instrument may breaks this range downwards and continue trading to the downside with the short-term target at 60.60.

XAUUSD, “Gold vs US Dollar”

Gold is consolidating near the lows. Possibly, today the pair may grow towards 1251.00 and then return to the downside border. If later the instrument breaks this range to the upside, the price may continue trading upwards to reach 1270.00; if to the downside – continue falling towards 1234.00.

BRENT

Brent has reached the main downside target. Possibly, today the pair may grow to break 75.15 and then continue trading to the upside to return to 76.30.

 

[RoboForex]

Murrey Level Analysis for EUR/USD and GBP/USD: July 16, 2018
16.07.2018
EUR/USD

On H4, the EUR/USD is back to a consolidation range, while we can expect the price to rise to the 5/8 resistance.

On H1, the price has broken out the 3/8 level, which may be followed with the further rise till the first target at 5/8.

On M15, the upper VoltyChannel line has been broken out, which signals a likely price rise.

GBP/USD

On H4, the GBP/USD is trading within a consolidation range between 3/8 and 5/8. Once 5/8 gets broken out, the price may rise further to reach the resistance at 8/8.

On H1, 1/8 breakout may lead to further growth till the resistance at 3/8.

On M15, the upper VoltyChannel line has been broken out, which signals a likely price rise.

 

[RoboForex]

Japanese Candlestick Analysis for GOLD and NZDUSD: July 16, 2018
16.07.2018
GOLD

On H4, the gold is again forming reversal patterns, such as hammer, inverted hammer, and doji, after bouncing off a support. By analyzing the previous moves, one can assume the pair may start forming a new uptrend after such a pullback.

NZDUSD

The pair started forming an uptrend on H4. Currently, the price is correcting and forming such reversal patterns as hammer and inverted hammer. By analyzing the previous moves, one can assume this is a minor pullback before the ascending move continuation.

 

[RoboForex]

Ichimoku Analysis: AUD/USD, NZD/USD, USD/CAD, July 16, 2018
16.07.2018
AUD/USD

The AUD/USD is trading at 0.7434, inside the Ichimoku cloud, which means the pair is trading sideways. We expect a test of the upper cloud boundary at 0.7435, and then a downward pullback to 0.7365. This fall may be prevented in case the price breaks out the upper boundary and closes above 0.7495, which will be a signal for a further rise to 0.7510 and above. Conversely, the fall will be confirmed once the bottom boundary gets broken out and the price closes below 0.7340.

NZD/USD

The NZD/USD is trading at 0.6778, inside the Ichimoku cloud, which means the pair is trading sideways. We expect a test of the upper cloud boundary at 0.6810, and then a downward pullback to 0.6675, which may be confirmed with the price bouncing off the resistance. This fall may be prevented in case price breaks out the upper boundary and closes above 0.6835, which will be a signal for a further rise to 0.6920 and above. Conversely, the fall will be confirmed once the bottom boundary of the triangle pattern gets broken out and the price closes below 0.6710.

USD/CAD

The USD/CAD is trading at 1.3145, inside the Ichimoku cloud, which means the pair is trading sideways. We expect a test of the lower cloud boundary at 1.3120, and then an upward pullback to 1.3280, which will be confirmed with the price bouncing off the lower boundary of the descending channel. This rise may be prevented in case price breaks out the lower boundary and closes below 1.3080, which will be a signal for a further fall to 1.3010 and below. The rise will get confirmed once the upper cloud boundary is broken out and the price closes above 1.3205.

 

[RoboForex]

Tech Analysis: EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT, July 16, 2018
16.07.2018
EURUSD

The euro has reached 1.1725 against the dollar, which may be considered as correction after the previous downmove. Once this correction is over, another downmove towards 1.1560 may occur, and then a rise to 1.1670 may follow.

GBPUSD

The pound has reached its downmove target. The pair is currently trading at 1.3333, ready to fall till 1.3220. A triangle pattern is forming at almost all lows. If the price goes up, the correction towards 1.3550 may follow; conversely, the trend may continue, with the price going to 1.3000.

USDCHF

The CHF has reached its target at 1.0067, while the pair is still sliding down, being under pressure. This may lead to a correction towards 0.9960.

USDJPY

The US dollar - Japanese yen pair is also under pressure and is going down, which may lead to correction to 111.11; then, a rise to 111.95 may follow. After that, a consolidation range with a reversal pattern may appear, and once it's broken down, the trend may continue with the price reaching 109.75.This is the first target.

AUDUSD

The Aussie has reached 0.7430 and may continue falling towards 0.7340, after which the consolidation range may be expected. If the price goes up after that consolidation, the correction towards 0.7520 may follow; conversely, the price may head down towards 0.7285, aiming to reach a strategic target.

USDRUB

The Russian ruble is still consolidating around 62.00; today, 61.51 may be reached. With further breakout, the price may head lower to reach the local target at 60.60.

GOLD

The gold is trading around its lows within a consolidation range. The yellow metal may go ahead to reach $1,249, and then fall back to the lower range boundary. Once the range is broken out top down, $1,234 may be reached; conversely, the price may go up towards $1,270.

BRENT

Brent crude pulled back to $74.70, although today it may rise to its local target at $76.35. Afterwards, another downward move to the same $74.70 may occur, and then a rise to 76.70 may follow. This is the first target.

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[RoboForex]

Fibo Analysis for EUR/USD and USD/JPY: July 17, 2018
17.07.2018
EUR/USD

On H4, the EURUSD is rising again after the correction, with the local target at 1.1790. Once this high is reached, the price may move to the post correctional range within 138.2% and 161.8% Fibo, or 1.1857-1.1900. The current move is supported by 1.1627.

On H1, one can see the new EURUSD uptrend is currently just a piece of correction with respect to the previous downtrend that ended with convergence. This correctional uptrend has reach the 61.8% Fibo level, with the next target being at 76.0% (1.1747).

USD/JPY

On H4, USDJPY is continuing to ascend. The price has reached 111.39 and is very close to the post correctional range between 138.2% and 161.8% Fibo, or 112.67 and 113.46.

Meanwhile, H1 charts show a pullback has started after the divergence. This pullback has already reached the 23.6% Fibo level, the next levels may lie at 38.2%, or 111.85, and at 50.0%, or 111.56.

 

[RoboForex]

Ichimoku Analysis: AUD/USD, NZD/USD, USD/CAD, July 17, 2018
17.07.2018
AUD/USD

The AUD/USD is trading at 0.7424, inside the Ichimoku cloud, which means the pair is trading sideways. We expect a test of the upper cloud boundary at 0.7435, and then a downward pullback to 0.7325. This fall may be prevented in case the price breaks out the upper boundary and closes above 0.7455, which will be a signal for a further rise to 0.7525 and above. Conversely, the fall will be confirmed once the bottom boundary gets broken out and the price closes below 0.7380.

NZD/USD

The NZD/USD is trading at 0.6822, above the Ichimoku cloud, which means there's an uptrend forming. We expect a test of the upper cloud boundary at 0.6805, and then a rise to 0.6920 and above, which may be confirmed with the price bouncing off the resistance. This rise may be prevented in case price breaks out the lower boundary and closes below 0.6750, which will be a signal for a further fall to 0.6670 and below. The rise will get confirmed once the upper boundary of the triangle is broken out and the price closes above 0.6850.

USD/CAD

The USD/CAD is trading at 1.3124, inside the Ichimoku cloud, which means the pair is trading sideways. We expect a test of the lower cloud boundary at 1.3120, and then an upward pullback to 1.3235, which will be confirmed with the price bouncing off the lower boundary of the descending channel. This rise may be prevented in case price breaks out the lower boundary and closes below 1.3080, which will be a signal for a further fall to 1.3010 and below. The rise will get confirmed once the upper cloud boundary is broken out and the price closes above 1.3205.

 

[RoboForex]

Tech Analysis: EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT, July 17, 2018
17.07.2018
EURUSD

The euro has reached 1.1725 against the dollar, while the pair is trading near its highs in a very tight range. The price rising to 1.1794 is still possible, but this can be considered just as the correction continuation. The major scenario is still a downtrend with the target at 1.1575, which is just a half of the whole falling potential.

GBPUSD

The pound has reached 1.3265 against the dollar, the pair being traded in a consolidation range near this high. The price rising to 1.3333 is still possible, but this can be considered just as correction. The major scenario is the price falling to 1.3000.

USDCHF

The pair has reached its correction target after rising, and may now head down to 0.9916, while the most likely scenario is the ascending trend continuation, with the price reaching 1.0066, and then, once it gets broken out, going further to 1.0200.

USDJPY

The USDJPY is consolidating around 112.37. The major scenario is the price falling to 111.95, as a part of a downtrend heading to 111.11. This is the first target.

AUDUSD

The Aussie is still consolidating around 0.7430 against the greenback, and while the rise to 0.7485 is still possible, it may be considered only as the correction continuation. The major scenario is the price falling to 0.7285. This is a strategic target.

USDRUB

The Russian ruble is still consolidating around 62.00; today, 62.62 may be reached, which may be followed by the pair falling to 61.61, and then reaching 60.60. This is a local target.

GOLD

The gold is trading around its lows within a consolidation range. The yellow metal may go ahead to reach $1,249, and then fall back to the lower range boundary. Once the range is broken out top down, $1,233 may be reached; conversely, the price may go up towards $1,270.

BRENT

Brent crude is under pressure and is going down. The correction continuation is possible, but there's a diverging triangle forming, showing a signal for the downtrend continuation after reaching $73.85. The local target is at $68.22.

 

[RoboForex]

Murrey Level Analysis for AUD/USD and NZD/USD: July 17, 2018
17.07.2018
AUD/USD

On H4, 2/8 breakout may lead to the AUD/USD price rising till 3/8.

On H1, if 5/8 gets broken out, the odds that the price will rise till the resistance at 8/8 will get higher.

In case VoltyChannel is broken out on M15, the price will be likely to rise to 0.7507.

NZD/USD

On H4, the NZD/USD is trading within a consolidation range, while we can expect the price to rise to 5/8.

On H1, the price may well fall to the support at 5/8 in case 7/8 gets broken out.

 

[RoboForex]

Japanese Candlestick Analysis for USDCAD and AUDUSD: July 17, 2018
17.07.2018
USDCAD

On H4, the pair is going down, stopping near the supports levels and forming reversal patterns, such as Hammer, Doji, and Inverted Hammer, every now and again. Currently, such a stop and correction is what is actually occurring. Just like in the previous cases, the price here is likely to break out after the pullback and continue downtrending.

AUDUSD

The pair is continuing to rise, but there are pullbacks with reversal patterns, such as Doji, Hammer, and Engulfment. However, once the correction is over, the price is likely to go uptrending again.

 

[RoboForex]

Fibo Analysis for GBP/USD and USD/JPY: July 18, 2018
18.07.2018
GBP/USD

On H4, the GBP/USD is correcting and range-trading. Once the low at 1.3049 gets broken out, the price may move to the post correctional extension of 138.20% to 161.80% Fibo, or 1.2931 to 1.2858. If a correctional uptrend goes ahead, the price may reach 38.20%, or 1.3555, and 50.00%, or 1.3712.

On H1, GBP/USD is forming a downtrend towards 1.3049, with the resistance being at the 1.3363 high.

EUR/JPY

On H4, the EUR/JPY uptrend has reached the 50.00% Fibo level. The price may continue rising to reach 61.80%, or 132.56, but the divergence is forming, which may signal a reversal is near. The next levels may lie at 23.60%, or 130.24, 38.20%, or 129.16, and at 50.0%, or 128.30.

On H1, the EUR/JPY is conforming a local divergence, which may be an additional reversal signal.

 

[RoboForex]

Japanese Candlestick Analysis for EURUSD and USDJPY: July 18, 2018
18.07.2018
EURUSD

On H4, the pair is making pullbacks and forming reversal patterns, such as Hammer and Harami. Previously, this usually lead to the price rising after the correction phase, so this time we can expect the same.

USDJPY

On H4, the pair has again broken out the resistance, while also forming a few Dojis and Falling Stars, which are reversal patterns. According to the previous similar cases, this is likely to be an attempt to stop the correction before forming a new uptrend.