Japanese Candlesticks Analysis 08.11.2013 (EUR/USD, USD/JPY)
08.11.2013
Analysis for November 8th, 2013
EUR/USD
The H4 chart of the EUR/USD currency pair shows bearish tendency, which continued after Shooting Star pattern. Three Line Break chart and Heiken Ashi candlesticks confirm descending movement; lower Window is support level.
The H1 chart of the EUR/USD currency pair shows correction within descending trend. Three Line Break chart and Heiken Ashi candlesticks confirm descending movement; Piercing Line pattern indicates that correction continues.
USD/JPY
The H4 chart of the USD/JPY currency pair shows bearish tendency. Upper Window is resistance level. Belt Hold, Two Crows, and Engulfing Bearish patterns, along with Three Line Break chart and Heiken Ashi candlesticks indicate descending movement; lower Windows may serve as support.
The H1 chart of the USD/JPY currency pair shows bearish tendency, which is indicated by Tweezers pattern. Closer Window is support level. Three Line Break chart and Heiken Ashi candlesticks confirm descending movement.
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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.