Japanese Candlesticks Analysis 05.03.2012 (EUR/USD, USD/JPY)
05.03.2012
Analysis for March 5th, 2012
EUR/USD
The H4 chart of the EUR/USD currency pair indicates the trend change, which started after Shooting Star, Tweezers, and Harami patterns. Three Methods continuation patterns indicate that the descending trend continues. Window 2012.02.06 is a support level, Three Line Break and Heiken Ashi candlestick charts confirm the bearish trend.
The H1 chart of the EUR/USD currency pair indicates a bearish tendency on the descending trend. The price has formed Three Methods continuation pattern, Window 2012.02.17 is the closest support level. Three Line Break and Heiken Ashi candlestick charts confirm the bearish tendency.
USD/JPY
The H4 chart of the USD/JPY currency pair indicates a bearish correction on the ascending trend, which has been started after Three Inside Down pattern. Three Line Break and Heiken-Ashi candlestick charts confirm the bearish correction.
The H1 chart of the USD/JPY currency pair indicates a bearish correction on the ascending trend, which has been started after Tower, Tweezers, and Engulfing Bearish reversal patterns. Window 2012.02.03 is a support level. Three Line Break and Heiken Ashi candlestick charts also indicate the bearish correction.
Attention!
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.