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Japanese Candlesticks Analysis 03.05.2016 (EUR/USD, USD/JPY)

Analysis for May 3rd, 2016

EUR USD, “Euro vs. US Dollar”

The H4 chart of EUR USD shows a bullish tendency. There are no reversal patterns; bearish Deliberation pattern hasn’t been confirmed. Three Line Break chart and Heiken Ashi candlesticks confirm a bullish direction.

At the H1 chart of EUR USD, the uptrend continues. Three Methods continuation pattern indicated an ascending movement. Three Line Break chart confirms a bullish direction; Heiken Ashi candlesticks show a possible bearish pullback.

USD JPY, “US Dollar vs. Japanese Yen”

At the H4 chart of USD JPY, Three Methods pattern indicated a descending movement. The downside Window was broken downwards; now it’s a resistance level. Three Line Break chart and Heiken Ashi candlesticks confirm a bearish direction; Inverted Hammer pattern shows a possible bullish pullback.

RoboForex Analytical Department

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