Japanese Candlesticks Analysis 13.04.2012 (EUR/USD, USD/JPY)

13.04.2012

Analysis for April 13th, 2012

EUR/USD

The H4 chart of the EUR/USD currency pair shows a bullish correction on the descending trend. Bearish Shooting Star pattern indicates that the correction is finished. Window, which is the closest to the price, is a resistance level. Three Line Break chart confirms an ascending correction, Heiken Ashi candlesticks indicate a bearish pullback.



The H1 chart of the EUR/USD currency pair shows a trend change and the start of a correction on the ascending trend. At the level of Window 2012.02.17 the price formed Evening Doji Star pattern, which is a bearish one and indicates a descending movement. Three Line Break chart indicates an ascending trend, Heiken Ashi candlesticks confirm a bearish pullback.


USD/JPY

The H4 chart of the USD/JPY currency pair shows the start of a correction on the descending trend. Window 2012.02.24 is a resistance level, Engulfing Bullish pattern indicates a correction. Three Line Break chart indicates a descending trend, Heiken‑Ashi candlesticks confirm a bullish movement.



The H1 chart of the USD/JPY currency pair shows a sideways correction on the descending trend, which is indicated by Doji Star pattern. Window 2012.02.24 is a resistance level. Three Line Break chart confirms an ascending correction, Heiken Ashi candlesticks indicate a bearish pullback.


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.