Japanese Candlesticks Analysis 09.03.2012 (EUR/USD, USD/JPY)
09.03.2012
Analysis for March 9th, 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 and Tweezers patterns. Window 2011.11.25 is a resistance level, here we can see bearish Three Outside Down pattern. Three Line Break chart indicates a bullish correction, Heiken Ashi candlesticks indicate a descending tendency.
The H1 chart of the EUR/USD currency pair indicates a bearish correction on the ascending trend. The price has formed bearish Harami and Shooting Star reversal patterns and bearish Three Methods continuation pattern. Window 2012.02.17 is a support level. Three Line Break and Heiken Ashi candlestick charts confirm a bearish 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. Three Line Break and Heiken-Ashi candlestick charts confirm a bullish tendency.
The H1 chart of the USD/JPY currency pair indicates a bearish correction on the ascending trend, which was started after bullish Tower pattern. Window 2012.02.24 is a support level. Three Line Break indicates a bullish tendency, Heiken Ashi candlesticks confirm a 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.