Japanese Candlesticks Analysis 04.03.2013 (EUR/USD, USD/JPY)
04.03.2013
Analysis for March 4th, 2013
EUR/USD
The H4 chart of the EUR/USD currency pair shows a bearish tendency on the descending trend. Three Line Break chart and Heiken Ashi candlesticks confirm a descending movement; Hammer pattern indicates a possibility of a bullish pullback.
The H1 chart of the EUR/USD currency pair shows a sideways correction on the descending trend. Hammer pattern, Three Line Break chart, and Heiken Ashi candlesticks indicate the correction.
USD/JPY
The H4 chart of the USD/JPY currency pair shows a sideways correction. The closest Window is a resistance level. Three Line Break chart and Heiken Ashi candlesticks confirm an ascending movement.
The H1 chart of the USD/JPY currency pair shows a bullish tendency, which continued after Three Methods pattern. Three Line Break chart confirms a bearish mood; 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 bears no responsibility for trading results based on trading recommendations described in these analytical reviews.