Analysis for February 8th, 2013
EUR/USD
The H4 chart of the EUR/USD currency pair shows a bearish tendency, which may continue after support of the closest Window. Three Line Break chart and Heiken Ashi candlesticks confirm a descending movement.
The H1 chart of the EUR/USD currency pair also shows the descending trend, which started after a bearish Tweezers pattern. Three Line Break chart confirms a descending movement; Inverted Hammer pattern and Heiken Ashi candlesticks indicate a bullish pullback.
USD/JPY
The H4 chart of the USD/JPY currency pair shows the start of a correction, which is indicated by Deliberation and Engulfing Bearish patterns. Three Line Break chart and Heiken Ashi candlesticks confirm a descending movement.
The H1 chart of the USD/JPY currency pair also shows a correction, which continued after a bearish Tweezers pattern. Three Line Break chart and Heiken Ashi candlesticks confirm a descending movement.
RoboForex Analytical Department