Japanese Candlesticks Analysis 24.08.2012 (EUR/USD, USD/JPY)
24.08.2012
Analysis for August 24th, 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. Three Methods pattern and Three Line Break chart confirm an ascending movement, Heiken Ashi candlesticks indicate the correction.
The H1 chart of the EUR/USD currency pair also shows a bullish tendency. The closest Window is a resistance level. Three Line Break chart and Heiken Ashi candlesticks indicate the correction.
USD/JPY
The H4 chart of the USD/JPY currency pair shows a bearish tendency, which is indicated by Hanging Man pattern. The closest Window, which was a resistance level, has been broken once again and now it is a support one. Three Line Break chart and Heiken Ashi candlesticks indicate a bullish pullback.
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 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.