Analysis for February 8th, 2016
EUR USD, “Euro vs. US Dollar”
At the H4 chart of EUR USD, Tower, High Wave, and Tweezers patterns indicated a descending correction. The upside Window provided resistance; the one in the middle provides support. Three Line Break chart and Heiken Ashi candlesticks confirm a bullish direction.
The H1 chart of EUR USD shows the uptrend. Shooting Star and Tweezers patterns indicated a descending correction. Three Line Break chart confirms that the correction continues; Heiken Ashi candlesticks show a possible bullish pullback.
USD JPY, “US Dollar vs. Japanese Yen”
At the H4 chart of USD JPY, Engulfing Bearish pattern indicates a descending movement. Three Line Break chart shows a bearish direction; High Wave pattern and Heiken Ashi candlesticks confirm an ascending movement.
RoboForex Analytical Department
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