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Home / Analytics / Forex analysis & forecasts / Forex Ichimoku cloud analysis and forecast / Japanese Candlesticks Analysis 05.05.2016 (EUR/USD, USD/JPY)
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Japanese Candlesticks Analysis 05.05.2016 (EUR/USD, USD/JPY)

05.05.2016

Analysis for May 5th, 2016

EUR USD, “Euro vs. US Dollar”

At the H4 chart of EUR USD, bearish Harami and Three Black Crows patterns indicated a descending correction. Three Line Break chart and Heiken Ashi candlesticks confirm a bearish direction; the daily Window in the middle of the chart provides support.



At the H1 chart of EUR USD, bearish Doji, Three Methods, and Three Black Crows patterns indicated that the bearish correction continued. The closest Window provides resistance. Three Line Break chart and Heiken Ashi candlesticks confirm a descending movement.




USD JPY, “US Dollar vs. Japanese Yen”

At the H4 chart of USD JPY, Engulfing Bullish, Three Methods, and Three White Soldiers patterns indicated an ascending correction. The downside Window provides support. Three Line Break chart and Heiken Ashi candlesticks confirm a bullish direction.



 
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