Japanese Candlesticks Analysis 27.03.2014 (EUR/USD, USD/JPY)
27.03.2014
Analysis for March 27th, 2014
EUR USD, “Euro vs US Dollar”
H4 chart of EUR USD shows sideways correction. Lower Window is support level. If price breaks bullish Tower pattern, bearish tendency may continue towards Window from daily chart. Three Line Break chart and Heiken Ashi candlesticks confirm descending movement.
H1 chart of EUR USD shows bearish tendency within descending trend. Closest Window is support level. Three Line Break chart and Heiken Ashi candlesticks confirms descending movement.
USD JPY, “US Dollar vs Japanese Yen”
H4 chart of USD JPY shows possible end of current correction, which is indicated by Engulfing Bullish pattern. Three Line Break chart and Heiken Ashi candlesticks confirm that bullish tendency continues.
H1 chart of USD JPY shows ascending movement, which is indicated by Hammer pattern. Lower Window is support level. Three Line Break chart confirms ascending movement; Shooting Star and Three Black Crows patterns, along with Heiken Ashi candlesticks indicate bearish pullback.
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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.