Analysis for October 31st, 2016
EUR USD, “Euro vs. US Dollar”
The H4 chart of EUR USD shows a correction within the downtrend. Bearish Harami pattern indicates a descending movement. Three Line Break chart shows the ascending correction; Heiken Ashi candlesticks confirm a bearish pullback.
At the H1 chart of EUR USD, bearish Tweezers and Three Methods patterns indicated a descending movement. Three Line Break chart and shows a bullish direction; Heiken Ashi candlesticks confirm a bearish pullback.
USD JPY, “US Dollar vs. Japanese Yen”
At the H4 chart of USD JPY, bearish Tower pattern indicates a descending correction. The upside Widow is a support level. Three Line Break chart confirms a bearish direction; Heiken Ashi candlesticks show a possible bullish pullback.
RoboForex Analytical Department
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