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Japanese Candlesticks Analysis 16.05.2016 (EUR/USD, USD/JPY)

Analysis for May 16th, 2016

EUR USD, “Euro vs. US Dollar”

At the H4 chart of EUR USD, the daily Window in the middle provided resistance. Bearish Harami and Three Methods patterns are directed in different directions. The downside Window is a support level. Three Line Break chart shows a bearish direction; Inverted Hammer pattern and Heiken Ashi candlesticks confirm a bullish pullback.



The H1 chart of EUR USD shows the bearish tendency. Hammer patterns indicated an ascending correction. Three Line Break chart confirms the correction; Engulfing Bearish pattern and Heiken Ashi candlesticks show a possible bearish pullback.




USD JPY, “US Dollar vs. Japanese Yen”

At the H4 chart of USD JPY, the sideways correction continues. Candlesticks are directed in different directions. The Window in the middle provides support. Three Line Break chart and Heiken Ashi candlesticks confirm an ascending movement.



 
RoboForex Analytical Department

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