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Japanese Candlesticks Analysis 02.05.2016 (EUR/USD, USD/JPY)

Analysis for May 2nd, 2016

EUR USD, “Euro vs. US Dollar”

At the H4 chart of EUR USD, the price is moving above the daily Window. Deliberation pattern indicates a descending movement, but it hasn’t been confirmed by a bearish candlestick. Three Line Break chart and Heiken Ashi candlesticks confirm a bullish direction.

At the H1 chart of EUR USD, bullish Three Methods continuation pattern, Three Line Break chart, and Heiken Ashi candlesticks confirm an ascending movement.

USD JPY, “US Dollar vs. Japanese Yen”

At the H4 chart of USD JPY, bearish Three Methods continuation pattern indicates a descending movement. The downside Window was broken downwards; now it’s a resistance level. Three Line Break chart and Heiken Ashi candlesticks show a bearish direction.

RoboForex Analytical Department

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