Analysis for August 17th, 2016
EUR USD, “Euro vs. US Dollar”
The H4 chart of EUR USD shows a bullish tendency. The upside Window provides resistance. Bearish Shooting Star and Hanging Man patterns show a descending correction. Three Line Break chart and Heiken Ashi candlesticks confirm a bearish direction.
At the H1 chart of EUR USD, the upside Window provided resistance. Bearish High Wave, Harami, and Shooting Star patterns showed a descending movement. Three Line Break chart and Heiken Ashi candlesticks confirm a bearish direction.
USD JPY, “US Dollar vs. Japanese Yen”
The H4 chart of USD JPY shows a correction within the downtrend. Hammer pattern indicated an ascending movement. Three Line Break chart shows the downtrend; Heiken Ashi candlesticks confirm that the bullish correction continues.
RoboForex Analytical Department
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