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Japanese Candlesticks Analysis 07.07.2016 (EUR/USD, USD/JPY)

Analysis for July 7th, 2016

EUR USD, “Euro vs. US Dollar”

At the H4 chart of EUR USD, Engulfing Bearish and Shooting Star patterns showed that the downtrend continues. The upside border of the downside Window provided resistance. Three Line Break chart and Heiken Ashi candlesticks show a bearish direction and confirm that the ascending correction finished.

At the H1 chart of EUR USD, bearish High Wave, Shooting Star, and Three Black Crows patterns show a descending movement. Three Line Break chart and Heiken Ashi candlesticks confirm a bearish direction. 

USD JPY, “US Dollar vs. Japanese Yen”

The H4 chart of USD JPY shows the downtrend. Bullish Doji and Hammer patterns indicate an ascending correction. Three Line Break chart shows a bullish direction; Heiken Ashi candlesticks confirm a bearish pullback.

RoboForex Analytical Department

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