Analysis for March 16th, 2016
EUR USD, “Euro vs. US Dollar”
At the H4 chart of EUR USD, bearish Shooting Stars pattern indicated the descending correction. The downside Window provides support. Three Line Break chart shows a bullish direction; Three Methods pattern and Heiken Ashi candlesticks confirm that the descending correction continues.
At the H1 chart of EUR USD, the sideways correction continues. The Window in the middle provides resistance, and the downside one provides support. Three Line Break chart and Heiken Ashi candlesticks confirm a descending movement.
USD JPY, “US Dollar vs. Japanese Yen”
The H4 chart of USD JPY shows an ascending correction, which is indicated by bullish Harami pattern near the Window (support level). Three Line Break chart shows a bearish direction; Heiken Ashi candlesticks confirm a bullish movement.
RoboForex Analytical Department
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