Japanese Candlesticks Analysis 07,05.2013 (EUR/USD, USD/JPY)
07.05.2013
Analysis for May 7th, 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; the level of bearish patterns is a resistance one. Two Crows pattern, 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 and Heiken Ashi candlesticks indicate the correction continues.
USD/JPY
The H4 chart of the USD/JPY currency pair shows a bearish tendency, which is indicated by Tweezers pattern. Three Line Break chart confirms an ascending movement; resistance level of bullish patterns and Heiken Ashi candlesticks indicate the current tendency.
The H1 chart of the USD/JPY currency pair also shows a bearish tendency, which started after Tweezers pattern. The closest Window is a resistance level. Three Line Break chart and Heiken Ashi candlesticks confirm a descending movement.
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