Japanese Candlesticks Analysis 21.08.2012 (EUR/USD, USD/JPY)
21.08.2012
Analysis for August 21st, 2012
EUR/USD
The H4 chart of the EUR/USD currency pair shows a sideways tendency. The closest Windows are support/resistance levels. Hammer and Tower patterns, Three Line Break chart and Heiken Ashi candlesticks confirm an ascending movement.
The H1 chart of the EUR/USD currency pair shows a bullish tendency, which is indicated by Morning Star pattern. Three Line Break chart and Heiken Ashi candlesticks confirm the current trend.
USD/JPY
The H4 chart of the USD/JPY currency pair shows the start of the correction, which is indicated by Hanging Man pattern. The closest Window, which was a resistance level, has been broken and now it is a support one. Three Line Break chart and Heiken Ashi candlesticks confirm the correction.
The H1 chart of the USD/JPY currency pair shows a bearish tendency on the ascending trend, which is indicated by Evening Star pattern. The closest Windows are support/resistance levels. Doji pattern, Three Line Break chart and Heiken Ashi candlesticks indicate a bullish pullback in the direction of the current trend.
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.