Japanese Candlesticks Analysis 19.02.2013 (EUR/USD, USD/JPY)

19.02.2013

Analysis for February 19th, 2013

EUR/USD

The H4 chart of the EUR/USD currency pair shows a bearish tendency, which is indicated by Three Methods pattern and a small Window. Three Line Break chart confirms a descending movement; Heiken Ashi candlesticks indicate a bullish pullback.



The H1 chart of the EUR/USD currency pair also shows a bearish tendency, which started after Doji pattern. The closest Window is broken, now it’s a resistance level. Three Methods pattern and Three Line Break chart confirm a descending movement; Tower pattern and Heiken Ashi candlesticks indicate a possible bullish pullback.



USD/JPY

The H4 chart of the USD/JPY currency pair shows a sideways correction on the ascending trend. Three Line Break chart and Heiken Ashi candlesticks confirm an ascending movement, but if the level of a bearish Tweezers pattern is strong enough to resist, the price may form Three Mountains or Three Buddhas patterns.



The H1 chart of the USD/JPY currency pair shows a sideways tendency. The closest Windows are support levels. Three Line Break chart confirms the main trend; and Heiken Ashi candlesticks indicate a possible bearish pullback up the support level.



 
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