Japanese Candlesticks Analysis 01.08.2012 (EUR/USD, USD/JPY)
01.08.2012
Analysis for August 1st, 2012
EUR/USD
The H4 chart of the EUR/USD currency pair shows a bullish tendency on the descending trend. The ascending movement of the price was stopped by Dark Cloud pattern. The closest Window may become a resistance level. Three Line Break and Heiken Ashi candlesticks charts indicate a bullish pullback.
The H1 chart of the EUR/USD currency pair shows a sideways tendency. Shooting Star pattern indicates that the market may start moving downwards again. Three Line Break and Heiken Ashi candlesticks charts indicate a bullish pullback.
USD/JPY
The H4 chart of the USD/JPY currency pair shows a bearish tendency on the descending trend. After forming Dark Cloud pattern near the Window, the price started falling down again. Three Line Break chart confirms a descending movement, Heiken Ashi candlesticks indicate a bullish pullback.
The H1 chart of the USD/JPY currency pair shows a bearish tendency. After forming Evening Star pattern, the price continued falling down. Three Methods pattern also indicates that the price may continue moving downwards. Three Line Break chart confirms a descending movement, Heiken Ashi candlesticks indicate a bullish pullback.
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.