Japanese Candlesticks Analysis 12.03.2012 (EUR/USD, USD/JPY)
12.03.2012
Analysis for March 12th, 2012
EUR/USD
The H4 chart of the EUR/USD currency pair indicates a bearish tendency on the descending trend, which continues after Three Outside Down pattern. Window 2011.11.25 is a resistance level, the price may form Morning Star pattern. Three Line Break and Heiken Ashi candlestick charts confirm a bearish tendency.
The H1 chart of the EUR/USD currency pair indicates a bullish correction on the descending trend. Doji candlestick indicates that the price is slowing down, 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 bearish correction on the ascending trend, which was started after Hanging Man pattern. Three Line Break chart confirms a bullish tendency, Heiken-Ashi candlesticks indicate a bearish correction.
The H1 chart of the USD/JPY currency pair indicates a bearish correction on the ascending trend, which was started after bearish Tower pattern. 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.