Analysis for May 10th, 2016
EUR USD, “Euro vs. US Dollar”
At the H4 chart of EUR USD, bearish Three Line Strike pattern indicates a descending movement. The daily Window provides resistance. Three Line Break chart shows a bearish direction; Heiken Ashi candlesticks indicate a possible bullish pullback towards the Window.
At the H1 chart of EUR USD, the sideways correction continues. Candlesticks are directed in different directions. Engulfing Bearish pattern close to the downside Window indicates a descending movement. Three Line Break chart and Heiken Ashi candlesticks shows a bearish direction.
USD JPY, “US Dollar vs. Japanese Yen”
At the H4 chart of USD JPY, bullish Three Methods pattern near the Window indicates that the ascending correction continues. Three Line Break chart and Heiken Ashi candlesticks confirm a bullish direction.
RoboForex Analytical Department
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