Japanese Candlesticks Analysis 11.10.2012 (EUR/USD, USD/JPY)
11.10.2012
Analysis for October 11th, 2012
EUR/USD
The H4 chart of the EUR/USD currency pair shows a correction, which is indicated by Hammer and Engulfing Bullish patterns. Window 2012.01.23 is a resistance level. Three Line Break chart and Heiken Ashi candlesticks confirm an ascending movement.
The H1 chart of the EUR/USD currency pair shows a bearish tendency. Three Line Break chart indicates a descending movement; Harami, Hammer, Three Methods patterns, and Heiken Ashi candlesticks confirm the correction.
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 and Heiken Ashi candlesticks indicate a descending movement.
The H1 chart of the USD/JPY currency pair shows a descending tendency. Hammer and Morning Star patterns indicate a bullish pullback. Three Line Break chart indicates the tendency; Heiken Ashi candlesticks confirm 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.