Japanese Candlesticks Analysis 07.10.2013 (EUR/USD, USD/JPY)
07.10.2013
Analysis for October 7th, 2013
EUR/USD
The H4 chart of the EUR/USD currency pair shows a correction on the ascending trend. Three Black Crows pattern and Three Line Break chart confirm the correction; Heiken Ashi candlesticks indicate a possible bullish pullback.
The H1 chart of the EUR/USD currency pair shows also a correction on the ascending trend. Three Line Break chart and Heiken Ashi candlesticks confirm an ascending movement.
USD/JPY
The H4 chart of the USD/JPY currency pair shows a bearish tendency on the descending trend. The closest Window is a resistance level. Three Line Break chart Heiken Ashi candlesticks confirm the descending trend.
The H1 chart of the USD/JPY currency pair also show a bearish tendency on the descending trend. The new Window, Three Line Break chart, and Heiken Ashi candlesticks confirm the trend.
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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.