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Japanese Candlesticks Analysis 05.10.2012 (EUR/USD, USD/JPY)

05.10.2012

Analysis for October 5th, 2012

EUR/USD

The H4 chart of the EUR/USD currency pair shows a bullish tendency on the ascending trend, which is indicated by Three Methods pattern. The closest Window is a resistance level. Three Line Break chart confirms an ascending movement; Heiken Ashi candlesticks indicate a possible bearish pullback.



The H1 chart of the EUR/USD currency pair shows a correction on the ascending trend, which is indicated by Hanging Man pattern. The closest Window is a support level. Three Line Break chart confirms the current trend; Heiken Ashi candlesticks indicate a descending movement.



USD/JPY

The H4 chart of the USD/JPY currency pair shows a bearish tendency, which is indicated by Tower and Belt Hold patterns. The closest Window is a resistance level. Three Line Break chart and Heiken Ashi candlesticks confirm a descending movement.



The H1 chart of the USD/JPY currency pair also shows a correction on the ascending trend, which is indicated by Tower pattern. The closest Window is a resistance level. Three Line Break chart and Heiken Ashi candlesticks confirm the correction.



 
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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.