Japanese Candlesticks Analysis 05.03.2013 (EUR/USD, USD/JPY)
05.03.2013
Analysis for March 5th, 2013
EUR/USD
The H4 chart of the EUR/USD currency pair shows a correction on the descending trend. Three Line Break chart confirms the current trend; Hammer pattern and Heiken Ashi candlesticks indicate a bullish pullback.
The H1 chart of the EUR/USD currency pair shows a sideways correction on the descending trend. Hammer pattern and Three Line Break chart indicate the correction; Heiken Ashi candlesticks confirm a descending movement.
USD/JPY
The H4 chart of the USD/JPY currency pair shows a sideways correction. The price formed Tower pattern near the closest Window. Three Line Break chart indicates a bullish movement; Tower pattern and Heiken Ashi candlesticks confirm a bearish mood.
The H1 chart of the USD/JPY currency pair shows a bearish tendency, which started after Tweezers and Tower patterns. 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.