Analysis for May 31st, 2016
EUR USD, “Euro vs. US Dollar”
The H4 chart of EUR USD shows a bearish tendency. Bullish Morning Star pattern indicated an ascending correction. The upper border of the downside Window provides support. Three Line Break chart and Heiken Ashi candlesticks confirm a descending movement towards support from the lower border of the Window.
At the H1 chart of EUR USD, the upside Window provided resistance. Engulfing Bearish pattern close to the Window indicates a descending movement. Three Line Break chart and Heiken Ashi candlesticks confirm a bearish direction; the downside Window is a support level.
USD JPY, “US Dollar vs. Japanese Yen”
At the H4 chart of USD JPY, bullish Belt Hold pattern indicates that the ascending tendency continues. Three Line Break chart and Heiken Ashi candlesticks confirm a bullish direction.
RoboForex Analytical Department
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