Japanese Candlesticks Analysis 18.04.2012 (EUR/USD, USD/JPY)
18.04.2012
Analysis for April 18th, 2012
EUR/USD
The H4 chart of the EUR/USD currency pair shows a bullish correction on the descending trend. Window, which is the closest to the price, is a resistance level. Three Line Break chart confirms a correction, Heiken Ashi candlesticks indicate a bearish pullback.
The H1 chart of the EUR/USD currency pair shows a sideways correction. Window 2012.02.03 is a resistance level, the price formed bullish Three Methods continuation pattern and Shooting Star pattern as well. Three Line Break and Heiken Ashi candlestick charts confirm a descending movement.
USD/JPY
The H4 chart of the USD/JPY currency pair shows a bullish tendency and a possible trend change. Window 2012.02.24 was broken, and now it is a support level. Three Line Break and Heiken‑Ashi candlestick charts indicate an ascending movement.
The H1 chart of the USD/JPY currency pair shows a bullish tendency on the ascending trend, which is indicated by Three Methods pattern. Window 2012.02.24 is a support level. Three Line Break and Heiken Ashi candlestick charts confirm an ascending movement.
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.