Analysis for October 4th, 2016
EUR USD, “Euro vs. US Dollar”
At the H4 chart of EUR USD, bearish Shooting Star and Doji patterns indicated a descending movement. The downside Window is a support level. Three Line Break chart and Heiken Ashi candlesticks confirm a bearish direction.
At the H1 chart of EUR USD, Engulfing Bearish and High Wave patterns indicated a descending movement. Bullish Doji pattern shows a possible pullback upwards. Three Line Break chart indicates a bullish direction; Heiken Ashi candlesticks confirm the descending movement.
USD JPY, “US Dollar vs. Japanese Yen”
At the H4 chart of USD JPY, the Window in the middle is broken. Candlesticks are still bullish. Three Line Break chart shows a bearish direction; Heiken Ashi candlesticks confirm an ascending movement.
RoboForex Analytical Department
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