Japanese Candlesticks Analysis 21.02.2013 (EUR/USD, USD/JPY)
21.02.2013
Analysis for February 21st, 2013
EUR/USD
The H4 chart of the EUR/USD currency pair shows a bearish tendency, which is indicated by Tower and Three Black Crows patterns. The closest Window is a support level. Three Line Break chart and Heiken Ashi candlesticks confirm a descending movement.
The H1 chart of the EUR/USD currency pair shows a bearish tendency, which continued after Tweezers and Tower patterns. Three Line Break chart confirms a descending movement; Harami pattern and Heiken Ashi candlesticks indicate a possible bullish pullback up to the closest Window.
USD/JPY
The H4 chart of the USD/JPY currency pair shows a sideways correction on the ascending trend. The price completed Harami pattern and right now is finishing Three Mountains pattern. Three Line Break chart indicates the current trend; Heiken Ashi candlesticks confirm a descending movement.
The H1 chart of the USD/JPY currency pair also shows a sideways tendency. The closest Windows are support/resistance levels. Shooting Star and Three Methods patterns, as well as 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.