Japanese Candlesticks Analysis 07,06.2013 (EUR/USD, USD/JPY)
07.06.2013
Analysis for June 7th, 2013
EUR/USD
The H4 chart of the EUR/USD currency pair shows a bullish tendency. The upper level of closest Window is a support level. Three Line Break chart and Heiken Ashi candlesticks indicate an ascending movement; however, if the price closes the latest candlestick below the Window, Euro may start a correction.
The H1 chart of the EUR/USD currency pair shows a sideways correction. The closet Window is a support level. Doji pattern, Three Line Break chart, and Heiken Ashi candlesticks confirm a descending movement.
USD/JPY
The H4 chart of the USD/JPY currency pair shows a bearish tendency. The closest Window is a support level. Three Methods pattern, Three Line Break chart, and Heiken Ashi candlesticks confirm a descending movement; Inverted Hammer pattern indicates a possible bullish pullback.
The H1 chart of the USD/JPY currency pair shows a correction, which is indicated by Hammer pattern. Three Line Break chart confirms an ascending movement; Heiken Ashi candlesticks indicate a bearish mood.
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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.