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Japanese Candlesticks Analysis 13.07.2012 (EUR/USD, USD/JPY)

13.07.2012

Analysis for July 13th, 2012

EUR/USD

The H4 chart of the EUR/USD currency pair shows a bearish tendency on the descending trend, which is indicated by Tweezers pattern. The price continues moving downwards after Three Methods and Engulfing Bearish patterns. Harami pattern indicates the local correction. Three Line Break chart confirms a descending movement, Heiken Ashi candlesticks indicate a bullish pullback.



The H1 chart of the EUR/USD currency pair shows a bearish tendency on the descending trend, which is indicated by Dark Cloud and Three Methods patterns. Three Line Break chart confirms a descending movement, Heiken Ashi candlesticks indicate a bullish pullback.



USD/JPY

The H4 chart of the USD/JPY currency pair shows a bearish tendency on the sideways trend. Shooting Star pattern indicates that the price continues falling down. Window 2012.06.18 may become a resistance level. Three Line Break and Heiken‑Ashi candlestick charts confirm a descending movement.



The H1 chart of the USD/JPY currency pair shows the descending trend. Window 2012.02.20 is a support level. Engulfing Bearish and Shooting Star patterns indicate that the price may continue falling down towards Window 2012.06.18. Three Line Break and Heiken Ashi candlestick charts confirm a descending movement.

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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 LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.