Article By RoboForex.com
Weekly Analysis, June 16th – 20th, 2014
EUR USD, “Euro vs US Dollar”
Weekly chart of EUR USD shows correction within bullish trend, which is indicated by Evening Star and Tweezers patterns. Three Line Break chart indicates ascending trend; bearish Three Methods continuation pattern and Heiken Ashi candlesticks confirm that descending correction continues.
Daily chart of EUR USD shows bearish tendency, which is indicated by Evening Star pattern. Lower Window is support level. Three Line Break chart and Heiken Ashi candlesticks confirm descending movement.
USD JPY, “US Dollar vs Japanese Yen”
Weekly chart of USD/JPY shows sideways correction within bullish trend, which started after Hanging Man and Evening Star patterns. Closest Window is support level. Three Line Break chart and Heiken Ashi candlesticks confirm that ascending trend continues; bearish Three Methods continuation pattern indicates possibility that correction may continue up to support from closest Window.
Daily chart of USD/JPY shows sideways tendency. Engulfing Bearish pattern, Three Line Break, and Heiken Ashi candlesticks confirm ascending movement; Engulfing Bullish pattern indicates possibility of bullish pullback.
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RoboForex Analytical Department
Article By RoboForex.com
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
