Japanese Candlesticks Analysis 06.03.2012 (EUR/USD, USD/JPY)
06.03.2012
Analysis for March 6th, 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. At the level of Window 2012.02.06 we have a bullish High Wave reversal pattern, which started a correctional pullback. At the Three Line Break chart we can see a bullish breakout, Heiken Ashi candlesticks confirm the bearish tendency.
The H1 chart of the EUR/USD currency pair indicates a bullish correction on the descending trend. The price has formed Hammer reversal pattern, Window 2012.02.17 is a support level. Three Line Break and Heiken Ashi candlestick charts confirm the bullish correction.
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 continued after bearish Tweezers pattern. 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.