Analysis for May 19th, 2016
EUR USD, “Euro vs. US Dollar”
At the H4 chart of EUR USD, bearish Three Methods continuation pattern indicates a descending movement. The downside Window is broken; not it provides resistance. Three Line Break chart and Heiken Ashi candlesticks confirm a bearish direction.
The H1 chart of EUR USD shows a sideways correction. Engulfing Bullish pattern indicates a bullish pullback. Three Line Break chart and Heiken Ashi candlesticks confirm that the bearish tendency continues.
USD JPY, “US Dollar vs. Japanese Yen”
At the H4 chart of USD JPY, the bullish tendency continues after being supported by the Window in the middle. Three Line Break chart confirms an ascending movement; Doji pattern and Heiken Ashi candlesticks indicate a possible bearish pullback.
RoboForex Analytical Department
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