Japanese Candlesticks Analysis 16.08.2016 (EUR/USD, USD/JPY)
16.08.2016
Analysis for August 16th, 2016
EUR USD, “Euro vs. US Dollar”
The H4 chart of EUR USD shows a bullish tendency. The Window in the middle provides support, the upside one may provide resistance. Three Line Break chart indicates a bearish direction; Heiken Ashi candlesticks confirm an ascending movement.
At the H1 chart of EUR USD, the Window in the middle provided support. Three Line Strike continuation pattern showed an ascending movement. Three Line Break chart and Heiken Ashi candlesticks confirm an ascending movement; bearish Harami pattern indicates a possible pullback downwards.
USD JPY, “US Dollar vs. Japanese Yen”
The H4 chart of USD JPY shows a bearish tendency. Harami and Three Methods patterns indicate a descending movement. Three Line Break chart and Heiken Ashi candlesticks confirm a bearish 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.