Japanese Candlesticks Analysis 02,05.2013 (EUR/USD, USD/JPY)
02.05.2013
Analysis for May 2nd, 2013
EUR/USD
The H4 chart of the EUR/USD currency pair shows a tendency change, which is indicated by Engulfing Bearish pattern. The closest Window is a resistance level. Three Line Break chart indicates the current trend; Heiken Ashi candlesticks confirm a descending movement.
The H1 chart of the EUR/USD currency pair also shows a bearish tendency, which started after Shooting Star pattern. The closest Windows are support levels. 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 started after a bearish Tweezers pattern. The closest Window is broken, now it’s a resistance level. Three Methods 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 bearish tendency. The closest Window is a resistance level. Three Line Break chart and Heiken Ashi candlesticks confirm a descending movement, but there is a possibility that the price may form a bullish Tweezers pattern.
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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.