Japanese Candlesticks Analysis 07.10.2016 (EUR/USD, USD/JPY)
07.10.2016
Analysis for October 7th, 2016
EUR USD, “Euro vs. US Dollar”
The H4 chart of EUR USD shows a bearish tendency. Engulfing Bearish pattern indicated a descending movement. Three Line Break chart and Heiken Ashi candlesticks confirm a bearish direction. Bullish Harami pattern indicates a possible pullback upwards.
At the H1 chart of EUR USD, bullish Hammer pattern indicates an ascending correction. The upside Window is a resistance level. Three Line Break chart shows a bearish direction; Heiken Ashi candlesticks confirm the ascending correction.
USD JPY, “US Dollar vs. Japanese Yen”
At the H4 chart of USD JPY, bearish Shooting Star pattern indicates a descending correction. The upside Window is a resistance level. Three Line Break chart and Heiken Ashi candlesticks confirm a bullish direction.
RoboForex Analytical Department
Attention!
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.