Japanese Candlesticks Analysis 01.04.2013 (EUR/USD, USD/JPY)
01.04.2013
Analysis for April 1st, 2013
EUR/USD
The H4 chart of the EUR/USD currency pair shows a correction on the descending trend, which is indicated by Tower pattern. 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 also shows a correction, which continued after a bullish Tower pattern. Three Line Break chart indicates the current trend; Heiken Ashi candlesticks confirm an ascending movement.
USD/JPY
The H4 chart of the USD/JPY currency pair shows a correction on the ascending trend. The closest Window is a support level, but the price has already broken it. Three Line Break chart and Heiken Ashi candlesticks confirm that the correction may continue.
The H1 chart of the USD/JPY currency pair shows a bearish tendency. The price formed Tweezers pattern and then broke the closest Window. 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.