Topic: Forex Technical Analysis & Forecast by RoboForex
Japanese Candlesticks Analysis 20.08.2019 (EURUSD, USDJPY)
EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, after completing Engulfing pattern, EURUSD has rebounded from the descending channel’s upside border. Right now, the pair is being corrected to the downside. After finishing the pullback, the price may fall towards 1.1030 to continue forming the descending channel. However, one shouldn’t exclude a possibility that the price may break the resistance level and continue growing towards 1.1240.
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