Analysis for October 20th, 2014
EUR USD, “Euro vs US Dollar”
The H4 chart of EUR USD shows a correction within the downtrend. Bearish Harami pattern, Three Line Break chart, and Heiken Ashi candlesticks confirm a bearish movement.
The H1 chart of EUR USD shows a sideways correction within the uptrend. Engulfing Bullish and Belt Hold pattern, along with Three Line Break and Heiken Ashi candlesticks confirm a bullish movement.
USD JPY, “US Dollar vs Japanese Yen”
The H4 chart of USD JPY shows an ascending movement, which is indicated by bullish Tower pattern. Three Line Break chart, Heiken Ashi candlesticks, and a new upside Window confirm a bullish movement; the upper Window is a resistance level.
RoboForex Analytical Department