Japanese Candlesticks Analysis 31.07.2012 (EUR/USD, USD/JPY)
31.07.2012
Analysis for July 31st, 2012
EUR/USD
The H4 chart of the EUR/USD currency pair shows a bullish tendency on the descending trend. The price started falling down again after forming Dark Cloud pattern. The closest Window may become a resistance level. Three Line Break chart indicates a bullish pullback, Heiken Ashi candlesticks confirm a descending movement.
The H1 chart of the EUR/USD currency pair shows a bearish tendency on the ascending trend. After forming Shooting Star pattern the market started moving downwards again. Three Line Break chart indicates a bullish pullback, Heiken Ashi candlesticks confirm a descending movement.
USD/JPY
The H4 chart of the USD/JPY currency pair shows a bearish tendency on the descending trend. After forming Dark Cloud pattern the price started falling down again. Three Line Break and Heiken Ashi candlesticks charts indicate a bullish pullback.
The H1 chart of the USD/JPY currency pair shows a sideways tendency. The price started moving downwards after forming Evening Star pattern. Three Methods pattern also indicates that the price may continue moving downwards. Three Line Break chart indicates a bullish pullback, Heiken Ashi candlesticks confirm a descending 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.