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Japanese Candlesticks Analysis 23.11.2016 (EUR/USD, USD/JPY)

Analysis for November 23rd, 2016

EUR USD, “Euro vs. US Dollar”

At the H4 chart of EUR USD, the sideways correction within the downtrend continues. Engulfing Bearish pattern indicates a pullback to the downside. Three Line Break chart shows a bullish direction; Heiken Ashi candlesticks confirm a descending movement.

At the H1 chart of EUR USD, bearish Hanging Man pattern indicates 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 a sideways correction within the uptrend. Engulfing Bearish and Harami reversal patterns show a possibility of a descending correction. Three Line Break chart indicates a bullish direction; Heiken Ashi candlesticks confirm that the correction continues.

RoboForex Analytical Department

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