Japanese Candlesticks Analysis 07.05.2012 (EUR/USD, USD/JPY)
07.05.2012
Analysis for May 7th, 2012
EUR/USD
The H4 chart of the EUR/USD currency pair shows a bearish tendency on the descending trend, which started after Engulfing Bearish pattern. A new Window is a resistance level. Three Line Break and Heiken Ashi candlestick charts confirm a descending movement.
The H1 chart of the EUR/USD currency pair shows a correction on the descending trend. A new Window is a resistance level. Three Line Break and Heiken Ashi candlestick charts confirm a descending movement.
USD/JPY
The H4 chart of the USD/JPY currency pair shows a bullish correction on the descending trend, which was started after Belt Hold and Tweezers patterns. Three Line Break chart confirms an ascending movement, Heiken‑Ashi candlesticks indicate a descending trend.
The H1 chart of the USD/JPY currency pair shows a bullish correction on the descending trend, which is indicated by Hammer pattern. Window is a support level. Three Line Break and Heiken Ashi candlestick charts indicate a descending trend.
Attention!
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.