Analysis for February 20th, 2015
At the H4 chart of EUR USD, the price has formed Shooting 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 Engulfing Bearish, the price formed Three Methods continuation pattern. In the near term, the price may continue falling towards the lower Window, which is confirmed by a reverse downwards made by Three Line Break chart and 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. If the pair is able to rebound from the current levels and form some bullish pattern, the market may resume growing. Three Line Break chart and Heiken Ashi candlesticks confirm the current correction.
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 may be confirmed by a rebound from the closest Window and some bullish pattern formed by the price.
RoboForex Analytical Department
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