Japanese Candlesticks Analysis 24.03.2014 (EUR/USD, USD/JPY)
24.03.2014
Analysis for March 24th, 2014
EUR USD, “Euro vs US Dollar”
H4 chart of EUR USD shows sideways correction and possible trend change. Lower Window is support level. Three Line Break chart confirms descending movement; High Wave and Heiken Ashi candlesticks indicate that correction continues.
H1 chart of EUR USD shows sideways correction within descending trend, which is indicated by bullish High Wave pattern. Closest Window is support level. Three Line Break chart, bearish High Wave pattern, and Heiken Ashi candlesticks indicate descending movement.
USD JPY, “US Dollar vs Japanese Yen”
H4 chart of USD JPY shows sideways correction, which is indicated by Hanging Man pattern. Three Line Break chart and Heiken Ashi candlesticks confirm that bullish tendency continues.
H1 chart of USD JPY shows sideways correction within ascending trend near upper Window, which is indicated by Evening Doji Star pattern. Morning Star pattern, Three Line Break chart, and Heiken Ashi candlesticks confirm ascending trend.
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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.