Japanese Candlesticks Analysis 10.10.2012 (EUR/USD, USD/JPY)
10.10.2012
Analysis for October 10th, 2012
EUR/USD
The H4 chart of the EUR/USD currency pair shows a bearish tendency, which is indicated by Harami pattern. Window 2012.01.23 is a resistance level. Three Line Break chart and Heiken Ashi candlesticks confirm a descending movement; Hammer pattern indicates a possible bullish pullback.
The H1 chart of the EUR/USD currency pair also shows a bearish tendency. Three Line Break chart confirms a descending movement; Heiken Ashi candlesticks and Harami pattern indicate a bullish pullback.
USD/JPY
The H4 chart of the USD/JPY currency pair shows a sideways tendency. Window 2011.12.26 is a support level. Three Line Break chart indicates a descending movement; Heiken Ashi candlesticks confirm a bullish pullback.
The H1 chart of the USD/JPY currency pair shows a correction on the ascending trend. Hammer pattern indicates a bullish pullback. Three Line Break chart confirms the correction; and Heiken Ashi candlesticks indicate an ascending movement.
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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.