Japanese Candlesticks Analysis 20.03.2012 (EUR/USD, USD/JPY)
20.03.2012
Analysis for March 20th, 2012
EUR/USD
The H4 chart of the EUR/USD currency pair indicates a trend change from bearish to bullish, which started after Three Outside Up pattern and continued after Three Methods pattern. Three Line Break chart confirms a bullish tendency, Heiken Ashi candlesticks indicate a bearish correction.
The H1 chart of the EUR/USD currency pair indicates a bearish correction on the ascending trend. Window 2012.02.03 is a support level, which has been broken. Three Line Break chart confirms a bullish tendency, Heiken Ashi candlesticks indicate a bearish pullback.
USD/JPY
The H4 chart of the USD/JPY currency pair indicates a bearish correction on the ascending trend, which was started bearish Evening Star pattern. Bearish Three Methods continuation pattern indicates that the correction continues. Three Line Break chart confirms a bearish correction, Heiken-Ashi candlesticks indicate a bullish pullback.
The H1 chart of the USD/JPY currency pair indicates a bearish correction on the ascending trend, which continued after bearish Three Outside Down pattern, and a bullish pullback, which started after bullish Three Inside Up pattern. Three Line Break chart confirms a bearish correction, Heiken Ashi candlesticks indicate a bullish pullback.
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.