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Japanese Candlesticks Analysis 22.02.2013 (EUR/USD, USD/JPY)

22.02.2013

Analysis for February 22nd, 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. Three Line Break chart confirms a descending movement; Hammer patterns and Heiken Ashi candlesticks indicate a possible bullish pullback.



The H1 chart of the EUR/USD currency pair shows a correction, which started after Belt Hold pattern. Three Line Break chart and Heiken Ashi candlesticks confirm an ascending movement.



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 confirms the current trend; Heiken Ashi candlesticks indicate a bullish pullback.



The H1 chart of the USD/JPY currency pair also shows a correction, which is indicated by Hammer pattern. The closest Windows are resistance levels. Three Line Break chart confirms the current trend; Heiken Ashi candlesticks indicate an ascending 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 LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.