Analysis for October 3rd, 2016
EUR USD, “Euro vs. US Dollar”
The H4 chart of EUR USD shows a sideways correction. Bullish Hammer pattern indicated an ascending movement. Three Line Break chart shows a bearish direction; Heiken Ashi candlesticks confirm the ascending movement.
At the H1 chart of EUR USD, Engulfing Bullish and Inverter Hammer patterns indicated an ascending movement. Oppositely-directed High Wave patterns show that the sideways correction continues. Three Line Break chart and Heiken Ashi candlesticks confirm a bullish direction.
USD JPY, “US Dollar vs. Japanese Yen”
At the H4 chart of USD JPY, the downside Window provided support twice. Bullish Inverted Hammer and Doji patterns indicated an ascending movement. The Window in the middle provides support. Engulfing Bearish pattern shows a descending movement. Three Line Break chart confirm a bearish direction; Heiken Ashi candlesticks show a possible pullback upwards.
RoboForex Analytical Department
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