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Japanese Candlesticks Analysis 16.02.2015 (EUR/USD, USD/JPY)

Analysis for February 16th, 2015

EUR USD, “Euro vs. US Dollar”

At the H4 chart of EUR USD, the price has formed Evening Star pattern near the Moving Average, which means that a descending movement may yet continue. Three Line Break chart and Heiken Ashi candlesticks still confirm the current correction.



As we can see at the H1 chart of EUR USD, after finishing Tower and Harami patterns, the price may resume falling. Three Line Break chart and Heiken Ashi candlesticks has reversed downwards, thus confirming that bears may return to the market.




USD JPY, “US Dollar vs. Japanese Yen”

At the H4 chart of USD JPY, we can see that after forming Evening Star pattern near the closest Window, the price is being corrected. Hammer pattern may indicate that the pair is going to resume growing, but this assumption hasn’t been confirmed yet by Three Line Break chart and Heiken Ashi candlesticks.



As we can see at the H1 chart of USD JPY, the pair has formed Doji and Harami patterns near the closest Window. Possibly, in the nearest future the price may form a pullback towards the upper Window, which is confirmed by an ascending movement indicated by Heiken Ashi candlesticks.




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