Japanese Candlesticks Analysis 07.02.2013 (EUR/USD, USD/JPY)
07.02.2013
Analysis for February 7th, 2013
EUR/USD
The H4 chart of the EUR/USD currency pair shows a correction on the ascending trend, which is indicated by Tweezers pattern. Three Line Break chart confirms the correction; Hammer pattern and Heiken Ashi candlesticks indicate a possible bullish pullback.
The H1 chart of the EUR/USD currency pair also shows a sideways tendency. Tweezers pattern and Three Line Break chart confirm the correction; Harami pattern and Heiken Ashi candlesticks indicate a bullish mood.
USD/JPY
The H4 chart of the USD/JPY currency pair shows the ascending trend. Deliberation pattern indicates a possible correction, but Three Line Break chart and Heiken Ashi candlesticks indicate an ascending movement.
The H1 chart of the USD/JPY currency pair shows a sideways correction, which is indicated by Shooting Star pattern. Three Line Break chart confirms a descending movement; Heiken Ashi candlesticks still indicate a bullish tendency.
RoboForex Analytical Department
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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.