Japanese Candlesticks Analysis 08.02.2016 (EUR/USD, USD/JPY)
08.02.2016
Analysis for February 8th, 2016
EUR USD, “Euro vs. US Dollar”
At the H4 chart of EUR USD, Tower, High Wave, and Tweezers patterns indicated a descending correction. The upside Window provided resistance; the one in the middle provides support. Three Line Break chart and Heiken Ashi candlesticks confirm a bullish direction.
The H1 chart of EUR USD shows the uptrend. Shooting Star and Tweezers patterns indicated a descending correction. Three Line Break chart confirms that the correction continues; Heiken Ashi candlesticks show a possible bullish pullback.
USD JPY, “US Dollar vs. Japanese Yen”
At the H4 chart of USD JPY, Engulfing Bearish pattern indicates a descending movement. Three Line Break chart shows a bearish direction; High Wave pattern and Heiken Ashi candlesticks confirm an ascending movement.
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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.