Japanese Candlesticks Analysis 20.03.2013 (EUR/USD, USD/JPY)
20.03.2013
Analysis for March 20th, 2013
EUR/USD
The H4 chart of the EUR/USD currency pair shows the start of a correction on the descending trend, which is indicated by Inverted Hammer pattern. A new Window is opened; it’s a resistance level. Three Line Break chart and Heiken Ashi candlesticks confirm the correction.
The H1 chart of the EUR/USD currency pair also shows the start of a correction. The lower Window is a resistance level. Three Line Break chart indicates the current trend; Harami pattern and Heiken Ashi candlesticks confirm the correction.
USD/JPY
The H4 chart of the USD/JPY currency pair shows a bullish tendency. Engulfing Bullish pattern, Three Line Break chart, and Heiken Ashi candlesticks confirm an ascending movement.
The H1 chart of the USD/JPY currency pair also shows a bullish tendency. The closest Window is broken; not it’s a support level. Three Line Break chart indicates the correction; High Wave pattern and Heiken Ashi candlesticks confirm an ascending movement.
RoboForex Analytical Department
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.