Analysis for December 17th, 2012
EUR/USD
The H4 chart of the EUR/USD currency pair shows a bullish tendency on the ascending trend. The closest Window is a resistance level. Three Line Break chart and Heiken Ashi candlesticks confirm the ascending trend.
The H1 chart of the EUR/USD currency pair also shows the start of a correction on the ascending trend, which is indicated by Doji pattern. Three Line Break chart confirms the ascending trend; and Heiken Ashi candlesticks indicate the correction.
USD/JPY
The H4 chart of the USD/JPY currency pair shows the start of a correction on the ascending trend, which is indicated by Upside Gap Two Crows pattern. Three Line Break chart indicates the current trend; Heiken Ashi candlesticks confirm a descending movement.
The H1 chart of the USD/JPY currency pair also shows the start of a correction. The upward Window is opened so far. Three Line Break chart indicates the current trend; Hanging Man pattern and Heiken Ashi candlesticks confirm a bearish movement.
RoboForex Analytical Department