Japanese Candlesticks Analysis 04.07.2013 (EUR/USD, USD/JPY)
04.07.2013
Analysis for July 4th, 2013
EUR/USD
The H4 chart of the EUR/USD currency pair shows the support of the closest Window, which hasn’t been broken by bearish candlesticks. Hammer pattern and Three Line Break chart indicate a bullish pullback; Heiken Ashi candlesticks confirm a descending movement.
The H1 chart of the EUR/USD currency pair shows a correction on the descending trend, which is indicated by Harami pattern. Three Line Break chart confirms the correction; Engulfing Bearish and Belt Hold patterns, along with Heiken Ashi candlesticks indicate a bearish pullback.
USD/JPY
The H4 chart of the USD/JPY currency pair shows a correction, which is indicated by Tower pattern. Three Line Break chart and Heiken Ashi candlesticks confirm a descending movement.
The H1 chart of the USD/JPY currency pair shows a correction on the ascending trend, which is indicated by Tweezers and Two Crows patterns. A bearish Harami pattern, Three Line Break chart, and Heiken Ashi candlesticks confirm the correction.
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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.