Japanese Candlesticks Analysis 21.03.2013 (EUR/USD, USD/JPY)
21.03.2013
Analysis for March 21st, 2013
EUR/USD
The H4 chart of the EUR/USD currency pair shows 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 confirms the correction; Heiken Ashi candlesticks indicate a bearish pullback.
The H1 chart of the EUR/USD currency pair also shows a correction. Three Line Break chart confirms the correction; Shooting Stars patterns and Heiken Ashi candlesticks indicate a possible resistance of the closest Window.
USD/JPY
The H4 chart of the USD/JPY currency pair shows a bullish tendency, which continued after Engulfing Bullish pattern. The closest Window is a support level. 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 a support level. Three Line Break chart and Heiken Ashi candlesticks confirm an ascending movement; Tower and Tweezers patterns indicate a possible bearish pullback.
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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.