Analysis for February 11th, 2015
The H4 chart of EUR USD shows the downtrend, which continues after Shooting Star and Tweezers reversal patterns. Three Methods continuation pattern indicates that the pair may continue falling. Three Line Break chart indicates a possible correction; and Heiken Ashi candlesticks confirm a descending movement.
EUR USD, “Euro vs. US Dollar”
As we can see at the H1 chart of EUR USD, after finishing Evening Star pattern, the price tried to resume falling, but was slowed down by Inverted Hammer pattern. After that, the pair formed Hammer pattern, which means that a local correction may yet continue. Three Line Break chart and Heiken Ashi candlesticks show different directions.
USD JPY, “US Dollar vs. Japanese Yen”The H4 chart of USD JPY shows an ascending movement. The price has formed High Wave pattern near the closest Window, which means that it may start a correction. Three Line Break chart and Heiken Ashi candlesticks show an ascending movement, but it’s very close to the maximum.
As we can see at the H1 chart of USD JPY, the pair has formed Engulfing Bearish pattern near the closest Window. Possibly, the price may form a pullback towards the lower Window, after which Three Line Break chart and Heiken Ashi candlesticks will reverse downwards.
RoboForex Analytical Department
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