Japanese Candlesticks Analysis 11.04.2012 (EUR/USD, USD/JPY)
11.04.2012
Analysis for April 11th, 2012
EUR/USD
The H4 chart of the EUR/USD currency pair shows a bullish correction on the descending trend. Bearish Tweezers pattern indicates the start of the correction. Window, which is the closest to the price, is a resistance level. Three Line Break and Heiken Ashi candlestick charts confirm an ascending correction.
The H1 chart of the EUR/USD currency pair shows a correction on the descending trend, which was started after bullish Tweezers pattern. Window 2012.02.03 is a resistance level, the lower border of a bullish Three Methods continuation pattern is a support level. Three Line Break and Heiken Ashi candlestick charts confirm the ascending movement.
USD/JPY
The H4 chart of the USD/JPY currency pair shows a correction on the ascending trend, which is indicated by bearish Three Methods pattern. Window 2012.02.24 is a resistance level. Three Line Break and Heiken‑Ashi candlestick charts confirm a descending tendency.
The H1 chart of the USD/JPY currency pair shows a bearish tendency on the descending trend, which continued after Dark Cloud and Three Methods patterns. Window 2012.02.24 is a resistance level. Three Line Break and Heiken Ashi candlestick charts confirm a descending movement.
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.