Japanese Candlesticks Analysis 06.03.2013 (EUR/USD, USD/JPY)
06.03.2013
Analysis for March 6th, 2013
EUR/USD
The H4 chart of the EUR/USD currency pair shows a correction on the descending trend, which is indicated by Hammer pattern. Three Line Break chart and Heiken Ashi candlesticks confirm the correction.
The H1 chart of the EUR/USD currency pair shows a sideways correction on the descending trend. Three Line Break chart indicates 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 a bearish Tower pattern near the closest Window. Three Line Break chart and Heiken Ashi candlesticks indicate an ascending movement.
The H1 chart of the USD/JPY currency pair also shows a sideways correction, which started after Tweezers and Tower patterns. Three Line Break chart indicates a descending movement; Heiken Ashi candlesticks confirm the current tendency.
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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.