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

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.



 
RoboForex Analytical Department

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