Japanese Candlesticks Analysis 09.04.2012 (EUR/USD, USD/JPY)
09.04.2012
Analysis for April 9th, 2012
EUR/USD
The H4 chart of the EUR/USD currency pair shows a bearish tendency on the descending trend. The price formed two bearish Three Methods patterns below Window 2012.02.03, which indicate that the trend continues. Three Line Break chart confirms a descending trend, Heiken Ashi candlesticks indicate a sideways correction.
The H1 chart of the EUR/USD currency pair shows a sideways correction on the descending trend. The price formed bearish Three Methods pattern below Window 2012.02.03, which indicates that the trend continues. Three Line Break chart confirms a descending trend, Heiken Ashi candlesticks indicate a correction.
USD/JPY
The H4 chart of the USD/JPY currency pair shows a correction on the ascending trend, which is indicated by bearish Two Crows, Tower, Harami, and Doji Star patterns. The price is forming Three Methods continuation pattern, which indicates that the correction continues. Three Line Break and Heiken‑Ashi candlestick charts confirm a descending correction.
The H1 chart of the USD/JPY currency pair shows a bearish tendency on the descending trend. Doji Blended Candle pattern indicates that the trend continues. Window 2012.02.24 is a support level. Three Line Break and Heiken Ashi candlestick charts confirm a descending trend.
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.