Analysis for April 21st, 2016
EUR USD, “Euro vs. US Dollar”
At the H4 chart of EUR USD, bearish Doji and Two Crows patterns indicate a descending movement. The daily Window provided resistance again. Three Line Break chart and Heiken Ashi candlesticks confirm a bearish direction; Doji pattern shows a possible bullish pullback.
The H1 chart of EUR USD shows a sideways correction near the Window, which provides support. Three Line Break chart confirms a bearish direction; bullish Doji pattern and Heiken Ashi candlesticks confirm a bullish pullback.
USD JPY, “US Dollar vs. Japanese Yen”
At the H4 chart of USD JPY, the correction within the downtrend continues. Bullish Morning Star Doji pattern indicated an ascending movement. Three Line Break chart and Heiken Ashi candlesticks confirm that the ascending correction continues; Deliberation pattern shows a possible bearish pullback.
RoboForex Analytical Department
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