Japanese Candlesticks Analysis 26.10.2012 (EUR/USD, USD/JPY)
26.10.2012
Analysis for October 26th, 2012
EUR/USD
The H4 chart of the EUR/USD currency pair shows a correction on the ascending trend, which is indicated by Engulfing Bearish pattern. The closest Window is a support level. Three Line Break chart and Heiken Ashi candlesticks confirm a descending movement.
The H1 chart of the EUR/USD currency pair shows a bearish tendency, which continued after Shooting Star pattern. Three Line Break chart and Heiken Ashi candlesticks confirm a descending movement; Hammer candlestick may be followed by a bullish pullback.
USD/JPY
The H4 chart of the USD/JPY currency pair shows a correction on the ascending trend, which is indicated by Engulfing Bearish pattern. Three Line Break chart and Heiken Ashi candlesticks confirm a descending movement.
The H1 chart of the USD/JPY currency pair also shows a correction on the ascending trend, which started after Harami pattern. Three Line Break chart and Heiken Ashi candlesticks confirm the correction.
RoboForex Analytical Department
Attention!
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.