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Japanese Candlesticks Analysis 24.02.2015 (EUR/USD, USD/JPY)

Analysis for February 24th, 2015

EUR USD, “Euro vs. US Dollar”

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 continue. Three Line Break chart and Heiken Ashi candlesticks are also reversing downwards.



As we can see at the H1 chart of EUR USD, after finishing Shooting Star pattern, the price has formed bearish Three Black Crows pattern. In the near term, if the price is able to stay below the closest Window, it may continue falling, which is confirmed by a descending movement indicated 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 Engulfing Bullish pattern near the closest Window and the Moving Average. In the future, the pair may continue growing towards the upper Window. Three Line Break chart and Heiken Ashi candlesticks show an ascending movement.



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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