Analysis for May 9th, 2016
EUR USD, “Euro vs. US Dollar”
At the H4 chart of EUR USD, bullish Harami and Hammer patterns indicated the ascending correction, which was completed by bearish High Wave pattern. Three Line Break chart shows a bullish direction; Heiken Ashi candlesticks confirm a bearish movement.
At the H1 chart of EUR USD, the sideways correction continues. High Wave pattern indicated a descending movement. Three Line Break chart shows that the ascending correction continues; Heiken Ashi candlesticks shows a bearish pullback.
USD JPY, “US Dollar vs. Japanese Yen”
At the H4 chart of USD JPY, bullish Three Methods and Inverted Hammer patterns near the Window indicate that the ascending correction within the downtrend continues. Three Line Break chart shows a bearish direction; Heiken Ashi candlesticks confirm the ascending correction.
RoboForex Analytical Department
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