Japanese Candlesticks Analysis 06,05.2013 (EUR/USD, USD/JPY)
06.05.2013
Analysis for May 6th, 2013
EUR/USD
The H4 chart of the EUR/USD currency pair shows a descending tendency, which started after 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 sideways correction. The closest Window is a support level. Three Line Break chart indicates the correction; Shooting Star pattern and Heiken Ashi candlesticks confirm a descending movement.
USD/JPY
The H4 chart of the USD/JPY currency pair shows a bullish tendency, which is indicated by Tweezers pattern. Three Line Break chart and Heiken Ashi candlesticks confirm an ascending movement; resistance level of bullish patterns indicates a possible tendency change.
The H1 chart of the USD/JPY currency pair also shows a bullish tendency, which continued after Three Methods pattern. The closest Window is a resistance level. Three Line Break chart and Heiken Ashi candlesticks confirm an ascending movement.
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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.