Japanese Candlesticks Analysis 03.08.2012 (EUR/USD, USD/JPY)
03.08.2012
Analysis for August 3rd, 2012
EUR/USD
The H4 chart of the EUR/USD currency pair shows a sideways tendency on the descending trend. After forming Shooting Star pattern, the market made a reverse in a downward direction. The closest Window is a resistance level and if the price breaks it, the pair will start falling down. 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. We can see two Shooting Star patterns, both of them indicate that the price continues moving downwards. Now the bears have to break the closest Window. Three Line Break chart confirms a descending movement, Heiken Ashi candlesticks 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 Engulfing Bearish pattern yesterday, the price continued falling down. 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 on the sideways trend. After forming Harami pattern, the price started the correction. Dark Cloud pattern indicates that the pair 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.