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Japanese Candlesticks Analysis 05.01.2017 (EUR/USD, USD/JPY)

Analysis for January 5th, 2017

EUR USD, “Euro vs. US Dollar”

At the daily chart of EUR USD, the correction continues. Engulfing Bullish and High Wave patterns confirm the ascending correction. Three Line Break chart shows a bearish direction; Heiken Ashi candlesticks confirm the ascending movement.

At the H4 chart of EUR USD, bullish Hammer pattern indicated an ascending movement. There are no reversal patterns right now. Long Shadows pattern shows a possible bearish pullback. Three Line Break chart indicates a descending movement; Heiken Ashi candlesticks confirm a bullish direction.

USD JPY, “US Dollar vs. Japanese Yen”

At the daily chart of USD JPY, bearish Harami and High Wave patterns indicate that the correction continues. Three Line Break chart shows a bullish direction; Heiken Ashi candlesticks confirm the descending correction.

RoboForex Analytical Department

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