Japanese Candlesticks Analysis 08,05.2013 (EUR/USD, USD/JPY)
08.05.2013
Analysis for May 8th, 2013
EUR/USD
The H4 chart of the EUR/USD currency pair shows a sideways correction. The closest Window is a support level; the level of bearish patterns is a resistance one. Harami pattern and Three Line Break chart confirm a descending movement; Heiken Ashi candlesticks indicate that the correction continues.
The H1 chart of the EUR/USD currency pair shows a sideways correction. The price is stuck between the closest Window and bearish patterns. Three Line Break chart and Heiken Ashi candlesticks indicate that the correction continues.
USD/JPY
The H4 chart of the USD/JPY currency pair shows a sideways tendency. The level of bearish patterns is a resistance one. Hammer pattern and Three Line Break chart confirm an ascending movement; Heiken Ashi candlesticks indicate a bearish mood.
The H1 chart of the USD/JPY currency pair also shows a sideways tendency. The Windows are a resistance level. Three Line Break chart confirms one more possible resistance of the upper Window; Heiken Ashi candlesticks indicate a descending 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.