Japanese Candlesticks Analysis 23.08.2012 (EUR/USD, USD/JPY)
23.08.2012
Analysis for August 23rd, 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 and Three Methods patterns. 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 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 a descending movement.
The H1 chart of the USD/JPY currency pair shows a bearish tendency, which is indicated by Engulfing Bearish pattern. The closest Window is a support/resistance level. Three Line Break chart confirms the current trend, 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.