Japanese Candlesticks Analysis 07.01.2014 (EUR/USD, USD/JPY)
07.01.2014
Analysis for January 7th, 2014
EUR/USD
H4 chart of EUR/USD shows correction within ascending trend. Tower pattern, Three Line Break chart, and Heiken Ashi candlesticks confirm bullish movement towards resistance area.
H1 chart of EUR/USD shows correction within descending trend, which is indicated by Tweezers and Tower patterns. Three Line Break chart confirms that correction continues; Heiken Ashi candlesticks indicate bearish trend.
USD/JPY
H4 chart of USD/JPY shows descending correction, which is indicated by Tweezers and Evening Star patterns. New upperWindow is closed. Three Methods continuation patterns, Three Line Break chart, and Heiken Ashi candlesticks confirm descending movement.
H1 chart of USD/JPY shows sideways correction. Price is moving between closest Window and support area. Three Line Break chart and Heiken Ashi candlesticks confirm descending movement.
RoboForex Analytical Department
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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 bears no responsibility for trading results based on trading recommendations described in these analytical reviews.