Japanese Candlesticks Analysis 03.02.2016 (EUR/USD, USD/JPY)

03.02.2016

Analysis for February 3rd, 2016

EUR USD, “Euro vs. US Dollar”

The H4 chart of EUR USD shows a sideways tendency. Engulfing Bearish pattern indicates a bearish pullback. Three Line Break chart shows a bullish direction; Heiken Ashi candlesticks confirm a descending movement.



At the H1 chart of EUR USD, Hanging Man pattern indicated a sideways correction. Hammer pattern, Three Line Break chart, and Heiken Ashi candlesticks confirm a bullish direction.




USD JPY, “US Dollar vs. Japanese Yen”

At the H4 chart of USD JPY, Shooting Star pattern indicated a descending correction. Three Line Break chart and Heiken Ashi candlesticks confirm a bearish direction; bullish Doji pattern indicates a bullish pullback.



 
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.