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Japanese Candlesticks Analysis 08.10.2012 (EUR/USD, USD/JPY)

08.10.2012

Analysis for October 8th, 2012

EUR/USD

The H4 chart of the EUR/USD currency pair shows a correction on the ascending trend, which is indicated by Harami pattern. The closest Window is a resistance level. Three Line Break chart indicates the current trend; Heiken Ashi candlesticks confirm the correction.



The H1 chart of the EUR/USD currency pair also shows a correction on the ascending trend, which is indicated by High Wave and Hanging Man patterns. Three Line Break chart and Heiken Ashi candlesticks confirm a descending movement.



USD/JPY

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



The H1 chart of the USD/JPY currency pair shows a bearish tendency on the ascending trend, which started after Dark Cloud pattern. Three Line Break chart indicate the current trend; Heiken Ashi candlesticks confirm the tendency.



 
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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.