Japanese Candlesticks Analysis 11.11.2013 (EUR/USD, USD/JPY)
11.11.2013
Analysis for November 11th, 2013
EUR/USD
The H4 chart of the EUR/USD currency pair shows bearish tendency. Lower Window is support level. Three Line Break chart and Heiken Ashi candlesticks confirm descending movement; Harami pattern indicates possibility of new correction.
The H1 chart of the EUR/USD currency pair shows correction within descending trend. Three Line Break chart confirms descending movement; Harami pattern and Heiken Ashi candlesticks indicates bullish pullback.
USD/JPY
The H4 chart of the USD/JPY currency pair shows bullish tendency. Three Line Break chart shows descending movement; Tower pattern and Heiken Ashi candlesticks indicate that bullish tendency continues.
The H1 chart of the USD/JPY currency pair shows sideways tendency. Three Line Break chart and Heiken Ashi candlesticks indicate descending movement; Hammer and Tower patterns possibility of resistance from upper level of closest Window.
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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.