Japanese Candlesticks Analysis 10.04.2014 (EUR/USD, USD/JPY)
10.04.2014
Analysis for April 10th, 2014
EUR USD, “Euro vs US Dollar”
H4 chart of EUR USD shows bullish tendency. Engulfing Bearish pattern indicates possibility of new correction; upper Window is support level. Three Line Break chart and Heiken Ashi candlesticks confirm bullish movement.
H1 chart of EUR USD shows sideways correction, which is indicated by Engulfing Bearish pattern. Three Line Break chart and Heiken Ashi candlesticks confirm ascending movement; Engulfing Bearish pattern is resistance level.
USD JPY, “US Dollar vs Japanese Yen”
H4 chart of USD JPY shows bearish tendency. Hammer and Inverted Hammer patterns near lower Window indicate possibility of ascending correction. Bearish Three Methods pattern, Three Line Break chart, and Heiken Ashi candlesticks confirm descending movement.
H1 chart of USD JPY shows sideways correction within bearish trend, which is indicated by Morning Star pattern near lower Window. Three Line Break chart indicates ascending correction; Heiken Ashi candlesticks confirm that descending trend may continue inside support area.
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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.