Japanese Candlesticks Analysis 08.03.2012 (EUR/USD, USD/JPY)
08.03.2012
Analysis for March 8th, 2012
EUR/USD
The H4 chart of the EUR/USD currency pair indicates a bullish correction on the descending trend, which was started after Morning Doji Star reversal pattern. Window 2011.11.25 is a resistance level, 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 bearish Engulfing Bearish reversal pattern. Window 2012.02.17 is a resistance 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 bullish tendency on the ascending trend, which continued after Tweezers pattern. Window is a support level. Three Line Break and Heiken-Ashi candlestick charts confirm a bullish tendency.
The H1 chart of the USD/JPY currency pair indicates a bullish tendency on the ascending trend, which started after bullish Hammer and Tweezers patterns and continued after Thee Methods one. Window 2012.02.24 is a support level. Three Line Break and Heiken Ashi candlestick charts also indicate a bullish tendency.
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.