Japanese Candlesticks Analysis 05.02.2013 (EUR/USD, USD/JPY)

05.02.2013

Analysis for February 5th, 2013

EUR/USD

The H4 chart of the EUR/USD currency pair shows a bearish tendency on the ascending trend, which is indicated by Engulfing Bearish pattern. Three Line Break chart and Heiken Ashi candlesticks indicate a descending movement.



The H1 chart of the EUR/USD currency pair also shows a bearish tendency, which started after Three Methods pattern. Three Line Break chart and Heiken Ashi candlesticks confirm a descending movement.



USD/JPY

The H4 chart of the USD/JPY currency pair shows a bearish tendency on the ascending trend. Three Line Break chart indicates an ascending movement; Heiken Ashi candlesticks confirm the correction.



The H1 chart of the USD/JPY currency pair shows a correction on the ascending trend, which started after Tweezers and Engulfing Bearish patterns. Three Line Break chart and Heiken Ashi candlesticks confirm a descending movement.



 
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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 bears no responsibility for trading results based on trading recommendations described in these analytical reviews.