Analysis for February 23rd, 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. However, in the near term, the pair may test the Moving Average for the last time. 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 Three Methods continuation pattern, the price has formed Shooting Star pattern. In the near term, the price may make a fast movement towards local highs, which is confirmed by a reverse upwards made by Three Line Break chart.
USD JPY, “US Dollar vs. Japanese Yen”At the H4 chart of USD JPY, we can see that the price has formed Engulfing Bullish pattern near the closest Window and the Moving Average. In the future, the pair is expected to resume growing towards the upper Window. Three Line Break chart and Heiken Ashi candlesticks are moving in different directions.
As we can see at the H1 chart of USD JPY, the pair has formed several Engulfing Bullish patterns near the closest Window. The price has been able to stay below the lower Windows, which means that in the nearest future it may form a pullback towards the upper Window. Three Line Break chart and Heiken Ashi candlesticks indicate the uptrend.
RoboForex Analytical Department
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