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Japanese Candlesticks Analysis 04.08.2016 (EUR/USD, USD/JPY)

Analysis for August 4th, 2016

EUR USD, “Euro vs. US Dollar”

At the H4 chart of EUR USD, the upside Window provided resistance. Doji pattern indicated a descending movement. Three Line Break chart and Heiken Ashi candlesticks confirm a bearish direction. The Window in the middle is a support level.



At the H1 chart of EUR USD, Three Methods continuation patterns showed a descending movement. The Window in the middle is a support level. Three Line Break chart shows a bearish direction; bullish Harami pattern and Heiken Ashi candlesticks confirm an ascending movement.




USD JPY, “US Dollar vs. Japanese Yen”

At the H4 chart of USD JPY, the bearish tendency continues. Shooting Star pattern indicated a descending movement after a sideways correction. Three Line Break chart shows a bearish direction; bullish Harami pattern and Heiken Ashi candlesticks confirm an ascending movement.



 
RoboForex Analytical Department

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