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Home / Analytics / Forex analysis & forecasts / Forex Ichimoku cloud analysis and forecast / Japanese Candlesticks Analysis 03.05.2016 (EUR/USD, USD/JPY)
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Japanese Candlesticks Analysis 03.05.2016 (EUR/USD, USD/JPY)


Analysis for May 3rd, 2016

EUR USD, “Euro vs. US Dollar”

The H4 chart of EUR USD shows a bullish tendency. There are no reversal patterns; bearish Deliberation pattern hasn’t been confirmed. Three Line Break chart and Heiken Ashi candlesticks confirm a bullish direction.

At the H1 chart of EUR USD, the uptrend continues. Three Methods continuation pattern indicated an ascending movement. Three Line Break chart confirms a bullish direction; Heiken Ashi candlesticks show a possible bearish pullback.

USD JPY, “US Dollar vs. Japanese Yen”

At the H4 chart of USD JPY, Three Methods pattern indicated a descending movement. The downside Window was broken downwards; now it’s a resistance level. Three Line Break chart and Heiken Ashi candlesticks confirm a bearish direction; Inverted Hammer pattern shows a possible bullish pullback.

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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.