Japanese Candlesticks Analysis 24.04.2012 (EUR/USD, USD/JPY)
24.04.2012
Analysis for April 24th, 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 Inside Down pattern indicates that the correction has been finished. Three Line Break chart indicates a descending trend, Heiken Ashi candlesticks confirm a correction.
The H1 chart of the EUR/USD currency pair shows a sideways correction. Window 2012.02.03 is a support level, bullish Hammer pattern indicates that the correction continues. 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 bearish tendency on the descending trend, which continued after Tweezers pattern. Three Methods continuation pattern indicates a descending movement. Three Line Break and Heiken‑Ashi candlestick charts confirm a descending movement.
The H1 chart of the USD/JPY currency pair shows the start of a bullish tendency on the ascending trend, which is indicated by Tweezers 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.