Weekly Japanese Candlesticks Analysis 12.01.2014 (EUR/USD, USD/JPY)
12.01.2014
Weekly Analysis, January 13th – 17th, 2014
EUR/USD
Weekly chart of EUR/USD shows start of correction within bullish trend, which is indicated by Shooting Star and Engulfing Bearish patterns. Three Line Break chart and Heiken Ashi candlesticks confirm descending movement.
Daily chart of EUR/USD shows correction, which is indicated by Evening Star pattern. Three Line Break chart confirms descending movement; Harami, Tweezers, and Tower patterns, together with Heiken Ashi candlesticks indicate bullish pullback towards resistance area.
USD/JPY
Weekly chart of USD/JPY shows correction within ascending trend, which is indicated by Hanging Man pattern. Small upper Window is support level. Three Line Break chart and Heiken Ashi candlesticks confirm that current trend continues.
Daily chart of USD/JPY shows start of correction within ascending trend, which is confirmed by Tweezers pattern, Three Line Break, and Heiken Ashi candlesticks.
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.