Analysis for April 20th, 2016
EUR USD, “Euro vs. US Dollar”
At the H4 chart of EUR USD, bullish Three Methods pattern indicated an ascending movement. The daily Window provides resistance. Three Line Break chart and Heiken Ashi candlesticks confirm a bullish direction; Harami pattern shows a possible bearish pullback.
At the H1 chart of EUR USD, the bullish tendency continues. Bearish Harami and Tower patterns haven’t been confirmed. Three Line Break chart and Heiken Ashi candlesticks confirm a bullish direction.
USD JPY, “US Dollar vs. Japanese Yen”
The H4 chart of USD JPY shows a sideways correction within the downtrend. Bullish Morning Star Doji pattern indicated an ascending movement. A new Window is closed and provides support; candlesticks are bullish; there are no reversal patterns. Three Line Break chart shows the downtrend; Heiken Ashi candlesticks confirm that the correction continues.
RoboForex Analytical Department
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