Japanese Candlesticks Analysis 08.01.2013 (EUR/USD, USD/JPY)
08.01.2013
Analysis for January 8th, 2013
EUR/USD
The H4 chart of the EUR/USD currency pair shows a bullish tendency, which started after Morning Star pattern and continued after Three Methods one. Three Line Break chart and Heiken Ashi candlesticks confirm an ascending movement.
The H1 chart of the EUR/USD currency pair also shows a bullish tendency, which continued after Tweezers pattern. Three Line Break chart confirms a short-term ascending movement; Heiken Ashi candlesticks indicate a local correction.
USD/JPY
The H4 chart of the USD/JPY currency pair shows the start of a correction on the ascending trend. Tweezers and Three Methods patterns, as well as Three Line Break chart and Heiken Ashi candlesticks, confirm a bearish movement.
The H1 chart of the USD/JPY currency pair shows a bearish tendency, which started after Tweezers pattern. Three Line Break chart and Heiken Ashi candlesticks confirm a descending movement.
RoboForex Analytical Department
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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.