Analysis for January 21st, 2016
EUR USD, “Euro vs. US Dollar”
The H4 chart of EUR USD shows a sideways correction. Engulfing Bearish pattern indicated a descending movement. Three Line Break chart shows a bearish movement; Engulfing Bullish pattern and Heiken Ashi candlesticks confirm a bullish pullback.
The H1 chart of EUR USD also shows a sideways tendency. Inverted Hammer and bullish Doji patterns, and Three Line Break chart indicate an ascending movement; Shooting Star pattern and Heiken Ashi candlesticks confirm a bearish pullback.
USD JPY, “US Dollar vs. Japanese Yen”
At the H4 chart of USD JPY, the downtrend continues. Bullish Hammer pattern and Three Line Break chart indicate a possible ascending correction; Engulfing Bearish pattern and Heiken Ashi candlesticks confirm a descending movement.
RoboForex Analytical Department
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