Japanese Candlesticks Analysis 18.10.2012 (EUR/USD, USD/JPY)
18.10.2012
Analysis for October 18th, 2012
EUR/USD
The H4 chart of the EUR/USD currency pair shows the start of a correction on the ascending trend, which is indicated by Harami Cross and Tweezers patterns. The closest Window is a support level. Three Line Break chart indicates the current trend; Heiken Ashi candlesticks confirm the correction.
The H1 chart of the EUR/USD currency pair also shows a correction on the ascending trend, which is indicated by Tweezers pattern. Three Methods pattern, Three Line Break chart, and Heiken Ashi candlesticks confirm a descending movement.
USD/JPY
The H4 chart of the USD/JPY currency pair shows the ascending trend. Doji Star pattern indicates a possible bearish pullback, the closest Window is a support level. Three Line Break chart and Heiken Ashi candlesticks confirm the current trend.
The H1 chart of the USD/JPY currency pair shows a correction on the ascending trend. Three Line Break chart indicates an ascending movement; Dark Cloud pattern 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.