Japanese Candlesticks Analysis 07.03.2012 (EUR/USD, USD/JPY)
07.03.2012
Analysis for March 7th, 2012
EUR/USD
The H4 chart of the EUR/USD currency pair indicates a descending tendency, which started after Shooting Star, Tweezers, and Harami patterns. Morning Doji Star reversal pattern indicates a bullish correction. Three Line Break chart indicates a descending tendency, Heiken Ashi candlesticks confirm a bullish pullback.
The H1 chart of the EUR/USD currency pair indicates a bullish correction on the descending trend. The price has formed High Wave, Harami, and Tweezers reversal patterns. Window 2012.02.03 is a support level. Three Line Break and Heiken Ashi candlestick charts confirm a 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. Window is a resistance level. Three Line Break and Heiken-Ashi candlestick charts confirm a bearish correction.
The H1 chart of the USD/JPY currency pair indicates a bullish correction on the descending trend, which has been started after bullish Hammer and Tweezers patterns. Window 2012.02.24 is a resistance level. Three Line Break and Heiken Ashi candlestick charts also indicate a bullish 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.