Analysis for October 16th, 2015
EUR USD, “Euro vs. US Dollar”
At the H4 chart of EUR USD, Tower and Engulfing Bearish patterns indicated a descending movement. The upper Window provides support. Three Line Break chart and Heiken Ashi candlesticks confirm a bearish direction.
At the H1 chart of EUR USD, Tower and Three Black Crows patterns indicate a descending movement. The price may start a bullish pullback from these patterns. Three Line Break chart and Heiken Ashi candlesticks show a bearish movement.
USD JPY, “US Dollar vs. Japanese Yen”
The H4 chart of USD JPY shows a bearish tendency. The lower Window provided support. High Wave and Belt Hold patterns indicate a bullish direction. Three Line Break chart shows a descending tendency; Heiken Ashi candlesticks confirm a bullish pullback.
RoboForex Analytical Department
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