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Japanese Candlesticks Analysis 19.10.2016 (EUR/USD, USD/JPY)

Analysis for October 19th, 2016

EUR USD, “Euro vs. US Dollar”

The H4 chart of EUR USD shows a bearish tendency. Doji pattern indicates a descending movement. Three Line Break chart shows a bearish direction; Heiken Ashi candlesticks confirm a bullish pullback.



At the H1 chart of EUR USD, Engulfing Bullish pattern indicates that the ascending correction continues. The downside Window is a resistance level. Three Line Break chart and Heiken Ashi candlesticks confirm a bullish direction.




USD JPY, “US Dollar vs. Japanese Yen”

The H4 chart of USD JPY shows a correction within the uptrend. Hanging Man pattern indicated a descending movement. The upside Window provided resistance. Three Line Break chart shows a bullish direction; Heiken Ashi candlesticks confirm that the descending correction continues.



 
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