Japanese Candlesticks Analysis 20.04.2012 (EUR/USD, USD/JPY)
20.04.2012
Analysis for April 20th, 2012
EUR/USD
The H4 chart of the EUR/USD currency pair shows a bullish correction on the descending trend, which is indicated by Inverted Hammer, Doji and Three White Soldiers patterns. Window, which is the closest to the price, is a resistance level. Three Methods pattern indicates that the correction continues in an upward direction. Three Line Break and Heiken Ashi candlestick charts confirm a correction.
The H1 chart of the EUR/USD currency pair shows a sideways correction. Window 2012.02.17 is a resistance level, the price formed bullish Three Outside Up pattern. Three Line Break and Heiken Ashi candlestick charts confirm an ascending movement.
USD/JPY
The H4 chart of the USD/JPY currency pair shows a bullish tendency and a possible trend change, which is indicated by Tweezers pattern. 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. Hanging Man reversal pattern indicates a possible bearish pullback. Three Line Break chart indicates a bearish pullback, Heiken Ashi candlesticks 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.