Japanese Candlesticks Analysis 04.04.2013 (EUR/USD, USD/JPY)
04.04.2013
Analysis for April 4th, 2013
EUR/USD
The H4 chart of the EUR/USD currency pair shows a sideways correction on the descending trend; the price is stuck inside the largest Window. Three Line Break chart confirms the correction; Evening Star pattern and Heiken Ashi candlesticks indicate a descending movement.
The H1 chart of the EUR/USD currency pair shows a bearish tendency, which started after High Wave pattern. Three Line Break chart and Heiken Ashi candlesticks confirm a descending movement.
USD/JPY
The H4 chart of the USD/JPY currency pair shows a bullish tendency, which started after Tower and Tweezers patterns. The closest Window is broken; now it’s a support level. Three Line Break chart and Heiken Ashi candlesticks confirm an ascending movement, but long white candlesticks indicates a possible correction.
The H1 chart of the USD/JPY currency pair also shows a bullish tendency, which started after Tweezers pattern. The closest Window is a support level. Three White Soldiers pattern, Three Line Break chart, and Heiken Ashi candlesticks indicate a descending movement.
RoboForex Analytical Department
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.