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Japanese Candlesticks Analysis 07.10.2016 (EUR/USD, USD/JPY)

Analysis for October 7th, 2016

EUR USD, “Euro vs. US Dollar”

The H4 chart of EUR USD shows a bearish tendency. Engulfing Bearish pattern indicated a descending movement. Three Line Break chart and Heiken Ashi candlesticks confirm a bearish direction. Bullish Harami pattern indicates a possible pullback upwards.



At the H1 chart of EUR USD, bullish Hammer pattern indicates an ascending correction. The upside Window is a resistance level. Three Line Break chart shows a bearish direction; Heiken Ashi candlesticks confirm the ascending correction.




USD JPY, “US Dollar vs. Japanese Yen”

At the H4 chart of USD JPY, bearish Shooting Star pattern indicates a descending correction. The upside Window is a resistance level. Three Line Break chart and Heiken Ashi candlesticks confirm a bullish direction.



 
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