Analysis for February 22nd, 2013
EUR/USD
The H4 chart of the EUR/USD currency pair shows a bearish tendency, which is indicated by Tower and Three Black Crows patterns. Three Line Break chart confirms a descending movement; Hammer patterns and Heiken Ashi candlesticks indicate a possible bullish pullback.
The H1 chart of the EUR/USD currency pair shows a correction, which started after Belt Hold pattern. Three Line Break chart and Heiken Ashi candlesticks confirm an ascending movement.
USD/JPY
The H4 chart of the USD/JPY currency pair shows a sideways correction on the ascending trend. The price completed Harami pattern and right now is finishing Three Mountains pattern. Three Line Break chart confirms the current trend; Heiken Ashi candlesticks indicate a bullish pullback.
The H1 chart of the USD/JPY currency pair also shows a correction, which is indicated by Hammer pattern. The closest Windows are resistance levels. Three Line Break chart confirms the current trend; Heiken Ashi candlesticks indicate an ascending movement.
RoboForex Analytical Department