Japanese Candlesticks Analysis 05.11.2013 (EUR/USD, USD/JPY)
05.11.2013
Analysis for November 5st, 2013
EUR/USD
On 4-hour chart of EUR/USD we see bearish trend, lower window is a support level. 3-linear breakout and Heiken Ashi candlesticks confirm downtrend. Hammer increases the odds of bullish correction.
On hourly chart of EUR/USD we see sideways correction during descending trend – hammer indicated this correction. 3-linear breakout and Heiken Ashi show descending trend, upper window serves as a resistance.
USD/JPY
4-Hour chart of USD/JPY shows bearish trend, lower windows serve as supports. Chart of 3-linear breakout shows rising direction, Heiken Ashi candles confirm probability of support near closest window.
On hourly chart of USD/JPY we see correction during bullish trend, upper window served as resistance, lower level of closest window serves as support. 3-linear breakout show trend, Heiken Ashi candlesticks confirm continuation of 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.