Japanese Candlesticks Analysis 16.05.2012 (EUR/USD, USD/JPY)
16.05.2012
Analysis for May 16th, 2012
EUR/USD
The H4 chart of the EUR/USD currency pair shows a bearish tendency on the descending trend. The previous sideways correction has been finished after Tweezers pattern. A new Window has been opened. Three Line Break and Heiken Ashi candlestick charts confirm a descending movement.
The H1 chart of the EUR/USD currency pair shows a bearish tendency on the descending trend. A new Window is still opened. 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 Engulfing Bullish pattern. High Price Harami pattern indicates that the correction continues. Three Line Break and Heiken‑Ashi candlestick charts confirm an ascending movement.
The H1 chart of the USD/JPY currency pair shows a correction on the ascending trend, which is indicated by Harami pattern. Window, which is the closest to the price, is a resistance level. Three Line Break and Heiken Ashi candlestick charts indicate an ascending movement.
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.