Japanese Candlesticks Analysis 16.10.2013 (EUR/USD, USD/JPY)
16.10.2013
Analysis for October 16th, 2013
EUR/USD
The H4 chart of the EUR/USD currency pair shows a sideways correction. Three Line Break chart indicates the correction; Tweezers pattern and Heiken Ashi candlesticks confirm an ascending movement.
The H1 chart of the EUR/USD currency pair shows an ascending movement, which is indicated by Hammers pattern near the lower Window. Three Line Break chart indicates a descending tendency; Heiken Ashi candlesticks confirm an ascending movement.
USD/JPY
The H4 chart of the USD/JPY currency pair shows a sideways correction. The closest Windows are support levels. Three Line Break chart and Heiken Ashi candlesticks confirm an ascending movement; Tweezers pattern indicates a possible bearish pullback.
The H1 chart of the USD/JPY currency pair show a sideways correction near the aHaWindows. Three Line Break chart indicates the ascending trend; Tweezers and Tower patterns along with 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.