Japanese Candlesticks Analysis 22.08.2012 (EUR/USD, USD/JPY)
22.08.2012
Analysis for August 22nd, 2012
EUR/USD
The H4 chart of the EUR/USD currency pair shows a bullish tendency on the ascending trend. The closest Windows are support/resistance levels. Hammer, Tower and Three Methods patterns, Three Line Break chart and Heiken Ashi candlesticks confirm an ascending movement.
The H1 chart of the EUR/USD currency pair also shows a bullish tendency, which is indicated by Morning Star pattern. Three Line Break chart confirm the current trend, Heiken Ashi candlesticks indicate a bullish pullback.
USD/JPY
The H4 chart of the USD/JPY currency pair shows 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.