Analysis for February 19th, 2015
At the H4 chart of EUR USD, the price has formed Evening Star and triple Tweezers patterns near the Moving Average, which means that a descending movement may yet continue. Three Line Break chart and Heiken Ashi candlesticks are also reversing downwards.
EUR USD, “Euro vs. US Dollar”
As we can see at the H1 chart of EUR USD, after finishing Harami and Three Black Crows patterns, the price formed Engulfing Bearish pattern. In the near term, the price may continue falling towards the lower Window, which is confirmed by a reverse downwards made by Heiken Ashi candlesticks.
USD JPY, “US Dollar vs. Japanese Yen”At the H4 chart of USD JPY, we can see that the price has formed Morning Star pattern near the closest Window and the Moving Average. Heiken Ashi candlesticks are reversing upwards. In the near term, the market is expected to grow towards the upper Window.
As we can see at the H1 chart of USD JPY, the pair has formed Hammer and then Tower patterns near the closest Window. Possibly, in the nearest future the price may form a pullback towards the upper Window, which is confirmed by a reverse upwards made by Heiken Ashi candlesticks.
RoboForex Analytical Department
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