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Japanese Candlesticks Analysis 21.01.2016 (EUR/USD, USD/JPY)

Analysis for January 21st, 2016

EUR USD, “Euro vs. US Dollar”

The H4 chart of EUR USD shows a sideways correction. Engulfing Bearish pattern indicated a descending movement. Three Line Break chart shows a bearish movement; Engulfing Bullish pattern and Heiken Ashi candlesticks confirm a bullish pullback.



The H1 chart of EUR USD also shows a sideways tendency. Inverted Hammer and bullish Doji patterns, and Three Line Break chart indicate an ascending movement; Shooting Star pattern and Heiken Ashi candlesticks confirm a bearish pullback.




USD JPY, “US Dollar vs. Japanese Yen”

At the H4 chart of USD JPY, the downtrend continues. Bullish Hammer pattern and Three Line Break chart indicate a possible ascending correction; Engulfing Bearish pattern and Heiken Ashi candlesticks confirm a descending movement.



 
RoboForex Analytical Department

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