Japanese Candlesticks Analysis 09.10.2012 (EUR/USD, USD/JPY)
09.10.2012
Analysis for October 9th, 2012
EUR/USD
The H4 chart of the EUR/USD currency pair shows a correction on the ascending trend, which is indicated by Harami pattern. Window 2012.01.23 is a support level. Three Line Break chart and Heiken Ashi candlesticks indicate the current trend.
The H1 chart of the EUR/USD currency pair also shows a correction on the ascending trend. Three Line Break chart and Harami pattern indicate a bullish pullback; Heiken Ashi candlesticks confirm a descending movement.
USD/JPY
The H4 chart of the USD/JPY currency pair shows a bearish tendency, which is indicated by Tower and Belt Hold patterns. The closest Window 2011.12.26 is a support level. Three Line Break chart confirms a descending movement; Heiken Ashi candlesticks indicate a bullish pullback.
The H1 chart of the USD/JPY currency pair shows a correction on the ascending trend, which started after Dark Cloud pattern and continued after Three Methods one. Hammer pattern indicates a bullish pullback. 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.