Japanese Candlesticks Analysis 05.02.2016 (EUR/USD, USD/JPY)
05.02.2016
Analysis for February 5th, 2016
EUR USD, “Euro vs. US Dollar”
The H4 chart of EUR USD shows a bullish tendency. The upside Window provided resistance. Three Line Break chart indicates a bullish direction; High Wave pattern and Heiken Ashi candlesticks confirm a bearish pullback towards the Window in the middle.
The H1 chart of EUR USD shows the uptrend. Shooting Star pattern indicated a descending correction. Three Line Break chart confirms the uptrend; Heiken Ashi candlesticks show a bearish direction.
USD JPY, “US Dollar vs. Japanese Yen”
At the H4 chart of USD JPY, Shooting Star and Doji patterns indicated a descending movement. Three Line Break chart and Heiken Ashi candlesticks confirm a bearish direction; Hammer pattern indicates a 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.