Analysis for November 4th, 2016
EUR USD, “Euro vs. US Dollar”
At the daily chart of EUR USD, bullish Doji pattern indicated a descending movement. Three Line Break chart and Heiken Ashi candlesticks confirm a bullish direction. High Wave pattern shows a possible bearish pullback.
At the H4 chart of EUR USD, the Window in the middle is a resistance level. Doji pattern indicates that the descending correction may continue. Three Line Break chart shows a bearish direction; Heiken Ashi candlesticks confirm an ascending movement.
USD JPY, “US Dollar vs. Japanese Yen”
At the daily chart of USD JPY, the correction within the downtrend continues. Harami pattern near the Window indicated a descending movement. Three Line Break chart and Heiken Ashi candlesticks confirm a bearish direction.
RoboForex Analytical Department
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