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Japanese Candlesticks Analysis 01.10.2012 (EUR/USD, USD/JPY)

01.10.2012

Analysis for October 1st, 2012

EUR/USD

The H4 chart of the EUR/USD currency pair shows the end of a correction on the ascending trend, which is indicated by Morning Star pattern. Window 2012.01.23 is a resistance level. Three Line Break chart indicates the correction; Heiken Ashi candlesticks confirm an ascending movement.



The H1 chart of the EUR/USD currency pair shows a bullish tendency, which is indicated by Tweezers and Harami patterns. Three Line Break chart and Heiken Ashi candlesticks confirm an ascending movement.



USD/JPY

The H4 chart of the USD/JPY currency pair shows a bullish tendency and the start of a possible correction, which is indicated by Engulfing Bullish pattern. Three Line Break chart confirms the tendency; Heiken Ashi candlesticks indicate a bearish pullback.



The H1 chart of the USD/JPY currency pair also shows a correction of the descending trend, which is indicated by Piercing Line pattern. Three Line Break chart and Heiken Ashi candlesticks confirm the correction; Dark Cloud pattern indicates a bearish pullback.

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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.