Japanese Candlesticks Analysis 08.08.2012 (EUR/USD, USD/JPY)
08.08.2012
Analysis for August 8th, 2012
EUR/USD
The H4 chart of the EUR/USD currency pair shows a bullish tendency, which is indicated by Tower patterns. Tweezers pattern, Three Line Break and Heiken Ashi candlesticks charts indicate the correction.
The H1 chart of the EUR/USD currency pair shows a sideways tendency on the ascending trend. Hammer pattern and Heiken Ashi candlesticks indicate the correction, Three Line Break chart confirms an ascending movement.
USD/JPY
The H4 chart of the USD/JPY currency pair shows a sideways correction on the descending trend. The closest Windows are support/resistance levels. Three Black Crows and bearish Harami patterns, as well as Heiken Ashi candlesticks, indicate a descending movement, Three Line Break chart confirms the correction.
The H1 chart of the USD/JPY currency pair shows a sideways tendency. The closest Window is a resistance level. Bullish Tweezers and Three Methods continuation patterns, as well as Heiken Ashi candlesticks indicate a descending movement, Three Line Break chart confirms a bullish tendency.
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.