Japanese Candlesticks Analysis 02.04.2012 (EUR/USD, USD/JPY)
02.04.2012
Analysis for April 2nd, 2012
EUR/USD
The H4 chart of the EUR/USD currency pair indicates a sideways tendency on the ascending trend. Window 2011.10.03 is a resistance level, Window 2011.11.25 is a support level and the price formed Morning Star pattern here. Currently the price is completing Three Methods continuation pattern. Three Line Break chart indicates a correction, Heiken Ashi candlesticks confirm an ascending trend.
The H1 chart of the EUR/USD currency pair indicates a bullish tendency on the ascending trend, a new ascending Window appeared here. Three Line Break and Heiken Ashi candlestick charts confirm a bullish tendency.
USD/JPY
The H4 chart of the USD/JPY currency pair indicates a slight correction on the ascending trend, which is confirmed by bearish Harami pattern. Three Line Break and Heiken‑Ashi candlestick charts confirm an ascending trend.
The H1 chart of the USD/JPY currency pair indicates a bearish correction on the ascending trend, which was started after Harami pattern. The price is supported by a bullish Window. Three Line Break chart confirms an ascending trend, Heiken Ashi candlesticks indicate a correction.
Attention!
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.