Analysis for April 7th, 2016
EUR USD, “Euro vs. US Dollar”
At the H4 chart of EUR USD, the sideways correction continues under the daily Window, which provides resistance. Bullish Hammer pattern shows that the uptrend continues. Three Line Break chart indicates a bullish direction; Heiken Ashi candlesticks confirm a bearish pullback.
At the H1 chart of EUR USD, Engulfing Bearish and Belt Hold patterns indicate a descending movement. Three Line Break chart shows a bullish movement; Heiken Ashi candlesticks confirm a bearish pullback.
USD JPY, “US Dollar vs. Japanese Yen”
At the H4 chart of USD JPY, the downtrend continues. There are no reversal patterns. Three Methods continuation pattern indicated a descending movement. The downside Window is a support level. Three Line Break chart and Heiken Ashi candlesticks confirm a bearish direction.
RoboForex Analytical Department
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