Japanese Candlesticks Analysis 17.04.2012 (EUR/USD, USD/JPY)
17.04.2012
Analysis for April 17th, 2012
EUR/USD
The H4 chart of the EUR/USD currency pair shows a bullish correction on the descending trend. Window, which is the closest to the price, is a resistance level. Three Line Break and Heiken Ashi candlestick charts confirm a correction.
The H1 chart of the EUR/USD currency pair shows a sideways correction. Window 2012.02.17 is a resistance level, the price formed bullish Three Methods continuation pattern. Three Line Break and Heiken Ashi candlestick charts confirm an ascending movement.
USD/JPY
The H4 chart of the USD/JPY currency pair shows a bearish tendency on the descending trend. Window 2012.02.24 is a resistance level. Three Line Break and Heiken‑Ashi candlestick charts indicate a descending trend.
The H1 chart of the USD/JPY currency pair shows a correction on the descending trend, which is indicated by Tweezers pattern. Window 2012.02.24 is a resistance level. Three Line Break chart confirms a descending movement, Heiken Ashi candlesticks indicate a bullish 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.