Analysis for August 29th, 2016
EUR USD, “Euro vs. US Dollar”
At the H4 chart of EUR USD, Meeting Lines pattern indicates that the ascending correction continues. The upside Window provided resistance; the one in the middle may provide support. Three Line Break chart and Heiken Ashi candlesticks show a bearish direction.
At the H1 chart of EUR USD, Hammer pattern indicates that the sideways correction continues. The downside Window is a support level. Three Line Break chart shows a bearish direction; Heiken Ashi candlesticks confirm a possible bullish pullback.
USD JPY, “US Dollar vs. Japanese Yen”
At the H4 chart of USD JPY, the downside Window provided support. Engulfing Bullish pattern indicated an ascending movement. The Window in the middle was broken; it may provide support as well. Three Line Break chart and Heiken Ashi candlesticks show a bullish direction.
RoboForex Analytical Department
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