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Japanese Candlesticks Analysis 16.08.2016 (EUR/USD, USD/JPY)

Analysis for August 16th, 2016

EUR USD, “Euro vs. US Dollar”

The H4 chart of EUR USD shows a bullish tendency. The Window in the middle provides support, the upside one may provide resistance. Three Line Break chart indicates a bearish direction; Heiken Ashi candlesticks confirm an ascending movement.



At the H1 chart of EUR USD, the Window in the middle provided support. Three Line Strike continuation pattern showed an ascending movement. Three Line Break chart and Heiken Ashi candlesticks confirm an ascending movement; bearish Harami pattern indicates a possible pullback downwards.




USD JPY, “US Dollar vs. Japanese Yen”

The H4 chart of USD JPY shows a bearish tendency. Harami and Three Methods patterns indicate a descending movement. Three Line Break chart and Heiken Ashi candlesticks confirm a bearish direction.



 
RoboForex Analytical Department

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