Japanese Candlesticks Analysis 23.10.2013 (EUR/USD, USD/JPY)
23.10.2013
Analysis for October 23rd, 2013
EUR/USD
The H4 chart of the EUR/USD currency pair shows a correction on the ascending trend, which is indicated by Tweezers; the price may form Tower pattern. Three Line Break chart indicates a bullish tendency; Heiken Ashi candlesticks confirm a possible correction.
The H1 chart of the EUR/USD currency pair shows a correction on the ascending trend, which is indicated by Tweezers 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 a bearish tendency, which continued after Shooting Star pattern. The lower Windows are broken, now they are resistance levels. Three Line Break chart and Heiken Ashi candlesticks confirm a bearish tendency; the price may form bullish patterns inside the support area formed by continuation patterns.
The H1 chart of the USD/JPY currency pair show a bearish tendency. Three Line Break chart confirms and Heiken Ashi candlesticks confirm a descending 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.