Japanese Candlesticks Analysis 20.02.2013 (EUR/USD, USD/JPY)
20.02.2013
Analysis for February 20th, 2013
EUR/USD
The H4 chart of the EUR/USD currency pair shows a sideways tendency. The closest Windows are support/resistance levels. Three Line Break chart indicates a descending movement towards the supper level; Tweezers and Tower patterns, together with Heiken Ashi candlesticks confirm an ascending movement.
The H1 chart of the EUR/USD currency pair shows a bullish tendency, which started after Tower pattern. The closest Window is broken; it’s a support level again. Three Line Break chart confirms an ascending movement; Tweezers and Shooting Stars patterns, together with Heiken Ashi candlesticks indicate a possible bearish 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 a descending movement; the price may form a bearish Three Mountains pattern.
The H1 chart of the USD/JPY currency pair also shows a sideways tendency. The closest Windows are resistance levels. Three Line Break chart confirms a descending movement; Heiken Ashi candlesticks indicate a possible bullish pullback up the resistance level.
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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.