Japanese Candlesticks Analysis 04.01.2016 (EUR/USD, USD/JPY)

04.01.2016

Analysis for January 4th, 2016

EUR USD, “Euro vs. US Dollar”

The H4 chart of EUR USD shows a sideways correction. The upside Window provides resistance. Three Line Break chart indicates that the descending correction continues; Hammer pattern and Heiken Ashi candlesticks confirm a bullish direction.



The H1 chart of EUR USD shows a bullish tendency, Shooting Star pattern indicates a possible bearish pullback. Three Line Break chart and Heiken Ashi candlesticks confirm a bullish direction.




USD JPY, “US Dollar vs. Japanese Yen”

The H4 chart of USD JPY shows a bearish tendency. The Window in the middle and Three Methods continuation pattern provided resistance. Three Line Break chart and Heiken Ashi candlesticks confirm a bearish direction.



 
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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.