Japanese Candlesticks Analysis 07.12.2012 (EUR/USD, USD/JPY)
07.12.2012
Analysis for December 7th, 2012
EUR/USD
The H4 chart of the EUR/USD currency pair shows a bearish tendency, which started after Evening Star pattern. The closest Window is a support level. Three Line Break chart and Heiken Ashi candlesticks confirm a descending movement.
The H1 chart of the EUR/USD currency pair also shows a bearish tendency, which continued after Engulfing Bearish pattern. The closest Window has been broken, now it’s a resistance level. Three Methods pattern, Three Line Break chart, and Heiken Ashi candlesticks confirm a descending movement.
USD/JPY
The H4 chart of the USD/JPY currency pair shows a correction on the ascending trend, which continued after Engulfing Bearish pattern. Three Line Break chart and Heiken Ashi candlesticks confirm the correction.
The H1 chart of the USD/JPY currency pair also shows a correction, which continued after Evening Star pattern. Windows are support/resistance levels. Three Line Break chart and Heiken Ashi candlesticks confirm a descending movement, but the closest Window may become a support level once again.
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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.