Analysis for March 16th, 2015
EUR USD, “Euro vs. US Dollar”
As we can see at the H4 chart of EUR USD, the downtrend continues. The price has reached more than 10 lows at the daily chart, which means that the market may start a correction soon. Three Line Break chart and Heiken Ashi candlesticks indicate a bearish movement.
The H1 chart of EUR USD also shows the downtrend. Morning Star pattern indicates a possible correction. Three Line Break chart and Heiken Ashi candlesticks indicate a descending movement.
USD JPY, “US Dollar vs. Japanese Yen”
The H4 chart of USD JPY shows a correction within the downtrend. The closest Window is a support level. Three Line Break chart and Heiken Ashi candlesticks confirm a descending correction.
RoboForex Analytical Department
Attention!
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.
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