Analysis for January 7th, 2016
EUR USD, “Euro vs. US Dollar”
At the daily chart of EUR USD, Belt Hold pattern indicates that the correction within the downtrend continues. Three Line Break chart shows a bullish direction; Heiken Ashi candlesticks confirm a bearish pullback.
At the H4 chart of EUR USD, bullish Tweezers and High Waves patterns show a bullish pullback towards bearish Three Methods continuation pattern. Three Line Break chart indicates a descending movement; Heiken Ashi candlesticks confirm the bullish pullback.
USD JPY, “US Dollar vs. Japanese Yen”
The H4 chart of USD JPY shows a bearish tendency. The downside Window provides support. Three Methods continuation pattern, Three Line Break chart, and Heiken Ashi candlesticks confirm a descending movement.
RoboForex Analytical Department
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