Technical Analysis by RoboForex

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Japanese Candlesticks Analysis 03.05.2018 (EURUSD, USDJPY)
03.05.2018
EURUSD, “Euro vs. US Dollar”

In the H4 chart, after finishing several Inverted Hammer and Engulfing reversal patterns, EURUSD is being corrected from the support level again. At the moment, it may be assumed that after the correction is over, the price may continue falling.

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, USDJPY has broken the resistance level and formed several Shooting Star and Doji reversal patterns. Judging by the previous movements, at the moment it may be assumed that the instrument may be corrected for a while before it resumes growing.

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Forex Technical Analysis & Forecast 03.05.2018 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)
03.05.2018
EURUSD, “Euro vs US Dollar”

EURUSD has reached the short-term downside target. Possibly, today the price may form another consolidation range near the lows. If the instrument breaks this range to the upside, the market may start another growth to reach 1.2040; if to the downside – resume trading to the downside towards 1.1900.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is consolidating near the lows. Today, the price may expand the range upwards to reach 1.3700. After that, the instrument may resume trading with the target at 1.3500.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has reached the upside target. Possibly, today the price may form another consolidation range near the highs. If the instrument breaks this range to the upside, the market may continue growing to reach 1.0030; if to the downside – start another decline towards 0.9935.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has reached the target of the ascending structure. Today, the price may form another consolidation range near the highs between 110.14 and 109.50.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is consolidating near the lows. If the instrument breaks this range to the upside, the market may start another correction to reach 0.7588; if to the downside – start another decline towards 0.7445.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB has reached the target of the ascending wave. Possibly, today the price may form another consolidation range near the highs between 63.18 and 64.20. If later the instrument breaks this range to the upside, the market may continue growing to reach 64.88; if to the downside – resume trading to the downside towards 62.20.

XAUUSD, “Gold vs US Dollar”

Gold is consolidating near the lows. If later the instrument breaks this range to the downside, the market may continue trading to the downside to reach 1297.00; if to the upside – start another growth towards 1325.00.

BRENT

Brent has extended the range towards 72.70. Possibly, today the price may grow to reach 74.40. If later the instrument breaks this range to the downside, the market may start another correction to reach 71.20; if to the upside – resume growing towards 76.30.

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Murrey Math Lines 03.05.2018 (USDCHF, GOLD)
03.05.2018
USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, USDCHF is trading inside the “overbought zone” above the 8/8 level. In this case, the price may test the +2/8 level, rebound from it, and then resume falling to reach the +1/8 one.

In the H1 chart, the pair may test the resistance at the 8/8 level, rebound from it, and then resume falling towards the support at the 5/8 one.

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, XAUUSD is trading inside the “oversold zone” below the 0/8 level. Later, the price is expected to break the 0/8 level and then continue moving upwards to reach the resistance at the 2/8 one.

The lines in the H4 and H1 charts are completely the same and confirm the scenario described above.

In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue moving upwards to reach 1328.13.

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Fibonacci Retracements Analysis 07.05.2018 (GOLD, USDCHF)
07.05.2018
XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, the correctional downtrend continues; it has already reached the retracement of 50.0% at 1300.80. The next short-term downside targets may be the retracements of 61.8% and 76.0% at 1285.60 and 1264.20 respectively. After breaking the short-term low, the instrument may continue trading towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 1279.20 and 1264.20 respectively. The resistance level is at 1335.30.

In the H1 chart, the short-term convergence made XAUUSD start a new correction to the upside, which has already reached the retracement of 23.6%. The next targets may be the retracements of 38.2% and 50.05 at 1322.10 and 1328.30 respectively.

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, USDCHF is still moving upwards and getting closer towards the retracement of 76.0%. The main upside target may be the high at 1.0344. The main support level is at 0.9902.

In the H1 chart, the uptrend continues, but one can see the divergence being formed, which may indicate a possible pullback towards the area between the retracements of 23.6% and 61.8% at 0.9951 and 0.9822 respectively.

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Japanese Candlesticks Analysis 07.05.2018 (USDCAD, AUDUSD)
07.05.2018
USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, USDCAD continues moving sideways and forming a lot of Shooting Star, Doji, and Hanging Man reversal patterns. At the moment, it may be assumed that the instrument may rebound from the resistance level and resume falling towards the support one.

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, AUDUSD has reached another support level and is still forming many reversal patters, such as Hammer, Inverted Hammer, and Engulfing reversal patterns. Judging by the previous movements, at the moment it may be assumed that these candlesticks indicate that the instrument may break the support level and then continue falling.

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Forex Technical Analysis & Forecast 07.05.2018 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)
07.05.2018
EURUSD, “Euro vs US Dollar”

EURUSD has reached the predicted target of the third descending wave, but hasn’t completed its last structure. Possibly, today the price may continue consolidating near the lows and expand the range towards 1.1892. After that, the instrument may grow to reach 1.2000 and then fall towards 1.1950. If later the instrument breaks this range to the upside, the market may start another correction to reach 1.2130; if to the downside – resume trading to the downside towards 1.1840.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has reached the downside target. Today, the price may consolidate near the lows, expand the range towards 1.3450 and then grow to reach 1.3585. If later the instrument breaks this range to the upside, the market may start another correction to reach 1.3750; if to the downside – resume trading towards 1.3260.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is moving upwards. Possibly, today the price may reach 1.0038 and the fall towards 0.9988. Later, the market may start another growth with the target at 1.0055.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is consolidating as well. Today, the price may grow towards 109.58. If later the instrument breaks this range to the downside, the market may start another decline to reach the short-term target at 107.85; if to the upside – continue growing towards 111.00.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is being corrected towards 0.7573. After that, the instrument may start another descending structure with the target at 0.7420.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is moving downwards. Today, the price may reach 62.20 and then grow towards 63.20. Later, the market may resume falling towards the short-term target at 60.20.

XAUUSD, “Gold vs US Dollar”

Gold is still being corrected. Possibly, today the price may grow towards 1320.00 and then fall to reach 1312.00. After that, the instrument may form another ascending structure towards 1322.00 and then resume trading to the downside to reach 1292.00.

BRENT

Brent is still consolidating near the highs. Possibly, the price may break 75.40 and then continue growing to reach 77.15. Later, the market may start another decline to reach 74.20 and then resume growing towards 77.70.

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Ichimoku Cloud Analysis 07.05.2018 (AUDUSD, NZDUSD, USDCAD)
07.05.2018
AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.7518; the instrument is moving below Ichimoku Cloud, which means that it may continue falling. The markets could indicate that the price may test the downside border of the cloud at 0.7525 and then continue moving downwards to reach 0.7430. Another signal to confirm further descending movement is the price’s rebounding from the resistance level. However, the scenario that Implies further decline may be cancelled if the price breaks the upside border of the cloud and fixes above 0.7580. In this case, the pair may continue growing towards 0.7690.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.7016; the instrument is moving below Ichimoku Cloud, which means that it may continue falling. The markets could indicate that the price may test the downside border of the cloud at 0.7025 and then continue moving downwards to reach 0.6920. Another signal to confirm further descending movement is the price’s rebounding from the upside border of the descending channel. However, the scenario that implies further decline may be cancelled if the price breaks the upside border of the cloud and fixes above 0.7110. In this case, the pair may continue growing towards 0.7200.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.2858; the instrument is moving above Ichimoku Cloud, which means that it may continue growing. The markets could indicate that the price may test the upside border of the cloud at 1.2840 and then continue moving upwards to reach 1.2990. Another signal to confirm further ascending movement is the price’s rebounding from the support level. However, the scenario that implies further growth may be cancelled if the price breaks the downside border of the cloud and fixes below 1.2745. In this case, the pair may continue falling towards 1.2630. After breaking the upside border of the Triangle pattern and fixing above 1.2905, the price may continue moving upwards.

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Murrey Math Lines 07.05.2018 (EURUSD, GBPUSD)
07.05.2018
EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, EURUSD is expected to test the -1/8 level, rebound from it, and the resume growing towards the 2/8 one.

In the H1 chart, the pair may break the 0/8 level and then continue growing towards the 3/8 one.

As we can see in the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue moving upwards to reach 1.2146.

GBPUSD, “Great Britain Pound vs US Dollar”

In the H4 chart, the pair is trading inside the “oversold zone”. If the price breaks the 0/8 level, the instrument may resume growing towards the resistance at the 2/8 one.

As we can see in the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue moving upwards to reach 1.3916.

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Japanese Candlesticks Analysis 08.05.2018 (EURUSD, USDJPY)
08.05.2018
EURUSD, “Euro vs. US Dollar”

In the H4 chart, after breaking another support level, EURUSD has finished several Inverted Hammer and Hammer reversal patterns. At the moment, the price is being corrected once again and may later continue its decline.

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, USDJPY is still trading sideways near the resistance level and forming a lot of Doji, Shooting Star, and Engulfing reversal patterns. Judging by the previous movements, at the moment it may be assumed that the instrument may stop this sideways movement, rebound from the resistance level, and resume moving downwards.

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Ichimoku Cloud Analysis 08.05.2018 (AUDUSD, NZDUSD, USDCAD)
08.05.2018
AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.7509; the instrument is moving below Ichimoku Cloud, which means that it may continue falling. The markets could indicate that the price may test the downside border of the cloud at 0.7520 and then continue moving downwards to reach 0.7390. Another signal to confirm further descending movement is the price’s rebounding from the upside border of the Triangle pattern. However, the scenario that Implies further decline may be cancelled if the price breaks the upside border of the cloud and fixes above 0.7565. In this case, the pair may continue growing towards 0.7690.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.7018; the instrument is moving below Ichimoku Cloud, which means that it may continue falling. The markets could indicate that the price may test the downside border of the cloud at 0.7025 and then continue moving downwards to reach 0.6890. Another signal to confirm further descending movement is the price’s rebounding from the upside border of the Triangle pattern. However, the scenario that implies further decline may be cancelled if the price breaks the upside border of the cloud and fixes above 0.7065. In this case, the pair may continue growing towards 0.7150.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.2902; the instrument is moving above Ichimoku Cloud, which means that it may continue growing. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.2880 and then continue moving upwards to reach 1.3020. Another signal to confirm further ascending movement is the price’s rebounding from the upside border of the Triangle pattern. However, the scenario that implies further growth may be cancelled if the price breaks the downside border of the cloud and fixes below 1.2775. In this case, the pair may continue falling towards 1.2650.

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Murrey Math Lines 14.05.2018 (EURUSD, GBPUSD)
14.05.2018
EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, EURUSD is trading at the 2/8 level. If later the price breaks this level, the instrument may test the resistance at the 3/8 one.

In the H1 chart, the pair is consolidating between the 3/8 and 5/8 levels. If the price breaks the 5/8 level, it may continue growing towards the resistance at the 8/8 one.

GBPUSD, “Great Britain Pound vs US Dollar”

In the H4 chart, the pair is trading inside the “oversold zone”. The price is expected to grow towards the resistance at the 1/8level.

As we can see in the H1 chart, the pair has broken the 6/8 level and may continue moving upwards to reach the resistance at the 8/8 one.

In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue trading upwards.

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Ichimoku Cloud Analysis 14.05.2018 (AUDUSD, NZDUSD, USDCAD)
14.05.2018
AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.7546; the instrument is moving above Ichimoku Cloud, which means that it may continue growing. The markets could indicate that the price may test the upside border of the cloud at 0.7535 and then continue moving upwards to reach 0.7645. Another signal to confirm further ascending movement is the price’s rebounding from the upside border of the descending channel. However, the scenario that Implies further growth may be cancelled if the price breaks the downside border of the cloud and fixes below 0.7455. In this case, the pair may continue falling towards 0.7400.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.6952; the instrument is moving below Ichimoku Cloud, which means that it may continue falling. The markets could indicate that the price may test the downside border of the cloud at 0.6985 and then continue moving downwards to reach 0.6865. Another signal to confirm further descending movement is the price’s rebounding from the resistance level. However, the scenario that implies further decline may be cancelled if the price breaks the upside border of the cloud and fixes above 0.7030. In this case, the pair may continue growing towards 0.7120.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.2786; the instrument is moving below Ichimoku Cloud, which means that it may continue falling. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.2825 and then continue moving downwards to reach 1.2620. Another signal to confirm further descending movement is the price’s rebounding from the resistance level. However, the scenario that implies further decline may be cancelled if the price breaks the upside border of the cloud and fixes above 1.2885. In this case, the pair may continue growing towards 1.3050.

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Japanese Candlesticks Analysis 14.05.2018 (GOLD, NZDUSD)
14.05.2018
XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, after forming several Hammer and Engulfing reversal patterns, XAUUSD has rebounded from the support level. At the moment, the price is still growing and forming slight corrections from time to time. In the nearest future, the instrument may continue moving upwards.

NZDUSD, “New Zealand vs. US Dollar”

As we can see in the H4 chart, NZDUSD continues falling; it is reaching new lows and forming Hammer, Doji, and Inverted Hammer reversal patterns. Judging by the previous movements, it may be assumed that the instrument may be slightly corrected before it resumes its decline.

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Forex Technical Analysis & Forecast 14.05.2018 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)
14.05.2018
EURUSD, “Euro vs US Dollar”

EURUSD has completed the five-wave ascending structure. Possibly, today the price may form a narrow consolidation range at the top of this structure. After breaking 1.1931, the pair may fall towards 1.1893, thus expanding the range downwards. If later the instrument breaks this range to the upside, the market may continue its growth to reach 1.2100; if to the downside – resume falling inside the downtrend with the target at 1.1735.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is still consolidating near the lows. If later the instrument breaks this range to the upside, the market may continue its growth to reach 1.3755; if to the downside – resume falling towards 1.3355.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is still trading upwards with the target at 0.9960 and may later resume growing towards 1.0000. If the instrument breaks this range to the downside, the market may start a new correction to reach 0.9900; if to the upside – continue growing with the target at 1.0060.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is still consolidating around 109.32. If later the instrument breaks this range to the downside, the market may start another decline to reach the target at 108.60; if to the upside – extend this structure towards 109.80 and then resume falling to reach 108.60.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has reached the target of the ascending impulse and right now is consolidating at the top of it. Today, the price may fall to reach 0.7486.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB has reached another downside target and right now is consolidating around 61.75. If later the instrument breaks this range to the downside, the market may continue moving downwards to reach 59.90; if to the upside – start another correction towards 63.20 and then resume falling inside the downtrend.

XAUUSD, “Gold vs US Dollar”

Gold is trading close to 1320.00. Possibly, today the price may form another descending wave towards 1309.00 and then grow to reach 1317.00. If later the instrument breaks this range to the downside, the market may resume falling with the target at 1295.00; if to the upside – continue the correction to reach 1331.00.

BRENT

Brent is consolidating above 76.40. Today, the price may test this level from above and then grow towards 78.10. If later the instrument breaks this range to the upside, the market may resume growing to reach 79.45; if to the downside – start another correction towards 74.60.

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Forex Technical Analysis & Forecast 15.05.2018 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)
15.05.2018
EURUSD, “Euro vs US Dollar”

EURUSD has broken the ascending channel structure. Possibly, today the price may form a new descending wave to reach 1.1893 at least and then grow towards 1.1940, thus forming another consolidation range. If later the instrument breaks this range to the upside, the market may continue its growth to reach 1.2100; if to the downside – resume falling inside the downtrend with the target at 1.1740.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is still consolidating. If later the instrument breaks this range to the upside, the market may continue its growth to reach 1.3755; if to the downside – resume falling towards 1.3355.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has reached the target of the descending wave. Today, the price may resume growing towards 1.0000, thus forming a new consolidation range. If the instrument breaks this range to the downside, the market may continue the correction to reach 0.9860; if to the upside – resume growing with the target at 1.0110.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is moving upwards. Possibly, the price may reach 110.01 and form another consolidation range. If later the instrument breaks this range to the downside, the market may start another decline to reach the target at 108.50; if to the upside – extend this structure towards 111.00 and then resume falling to reach 108.60.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has broken its consolidation range downwards. Possibly, today the price may fall towards 0.7486 and form the first part of a new reversal structure. Later, the market may grow to break 0.7565 and then continue trading towards the target at 0.7640.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is consolidating without any particular direction around 61.75. If later the instrument breaks this range to the downside, the market may continue moving downwards to reach 59.85; if to the upside – start another correction towards 63.15.

XAUUSD, “Gold vs US Dollar”

Gold has broken its consolidation range downwards. Possibly, the price may fall towards the first target at 1309.00 and then grow to reach 1317.00. After that, the instrument resume falling with the short-term target at 1299.00.

BRENT

Brent has broken 78.10 upwards and may continue growing to reach 79.50. Later, the market may resume growing with the target at 80.15.

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Japanese Candlesticks Analysis 15.05.2018 (USDCAD, AUDUSD)
15.05.2018
USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, after forming several Hammer and Harami reversal patterns, USDCAD has rebounded from the support level. At the moment, it may be assumed that the correction may be over soon and then the instrument may continue falling.

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, AUDUSD is still forming a lot of Hammer, Doji, and Inverted Hammer reversal patterns. Judging by the previous movements, at the moment it may be assumed that these candlesticks indicate that the correction may be over soon and the instrument may later continue falling.

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Forex Technical Analysis & Forecast 16.05.2018 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)
16.05.2018
EURUSD, “Euro vs US Dollar”

EURUSD is moving downwards. Possibly, today the price may reach 1.1812 and then grow towards 1.1875. Later, market may continue its decline with the target at 1.1760.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is still consolidating around 1.3535. Today, the price may reach 1.3440 and then grow towards 1.3580, thus forming another consolidation range. If later the instrument breaks this range to the upside, the market may start another correction to reach 1.3750; if to the downside – resume falling inside the downtrend with the target at 1.3355.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is still consolidating. If the instrument breaks this range to the downside, the market may start another correction to reach 0.9850; if to the upside – resume growing with the target at 1.0110.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has broken 110.00 upwards and continues extending this structure. Possibly, today the price may fall to test 110.00 from above and then grow to reach 110.66. After that, the instrument may start another decline to return to 110.00 and then resume growing to reach 111.11.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD continues moving downwards. Possibly, the price may reach 0.7425 and then grow towards 0.7494. Later, the market may continue trading downwards with the target at 0.7320.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is growing towards 62.88. After that, the instrument may resume moving downwards to reach the short-term target at 58.90.

XAUUSD, “Gold vs US Dollar”

Gold has reached the target of the descending wave at 1292.00. Today, the price may form another consolidation range. If later the instrument breaks this range to the upside, the market may reach 1303.00; if to the downside – resume falling inside the downtrend with the target at 1285.00.

BRENT

Brent has reached the short-term upside target at 79.50 upwards. Possibly, today the price may start another correction to reach 78.00 at least or even test 77.00 from above. Later, the market may resume growing with the target at 80.20.

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Murrey Math Lines 16.05.2018 (USDJPY, USDCAD)
16.05.2018
USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, USDJPY has broken the resistance at the 5/8 level and may continue growing towards the 6/8one.

In the H1 chart, the pair may break the 3/8 level and then continue trading upwards to reach the 5/8 one.

As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue trading upwards.

USDCAD, “US Dollar vs Canadian Dollar”

In the H4 chart, USDCAD is expected to break the 7/8 level and then continue moving upwards to each the resistance at the 8/8 one.

As we can see in the H1 chart, the pair may rebound from the 5/8 level and then continue growing towards the resistance at the 8/8 one.

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Murrey Math Lines 16.05.2018 (USDJPY, USDCAD)
16.05.2018
USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, USDJPY has broken the resistance at the 5/8 level and may continue growing towards the 6/8one.

In the H1 chart, the pair may break the 3/8 level and then continue trading upwards to reach the 5/8 one.

As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue trading upwards.

USDCAD, “US Dollar vs Canadian Dollar”

In the H4 chart, USDCAD is expected to break the 7/8 level and then continue moving upwards to each the resistance at the 8/8 one.

As we can see in the H1 chart, the pair may rebound from the 5/8 level and then continue growing towards the resistance at the 8/8 one.

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Japanese Candlesticks Analysis 16.05.2018 (EURUSD, USDJPY)
16.05.2018
EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, EURUSD has reached another low and formed several Hammer reversal patterns. Judging by the previous movements, at the moment it may be assumed that the price may be corrected for a while and later continue its decline.

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, USDJPY has reached another high and formed several Hanging Man and Shooting Star reversal patterns. Judging by the previous movements, at the moment it may be assumed that the instrument may be slightly corrected before resuming its growth.

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