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Japanese Candlesticks Analysis 26.07.2012 (EUR/USD, USD/JPY)

26.07.2012

Analysis for July 26th, 2012

EUR/USD

The H4 chart of the EUR/USD currency pair shows a bearish tendency on the descending trend. After forming a new Window on Monday and Harami pattern a bit later, the market is consolidating. If the price is supported by the Window, Euro will probably continue moving downwards. Three Line Break chart indicates a bullish pullback, Heiken Ashi candlesticks confirm a descending movement.



The H1 chart of the EUR/USD currency pair shows a bullish tendency on the descending trend. The price started the correction after forming Hammer pattern. The bulls have closed the Window opened on Monday. Three Line Break chart indicates a bullish pullback, Heiken Ashi candlesticks confirm a descending movement.



USD/JPY

The H4 chart of the USD/JPY currency pair shows a bearish tendency on the descending trend. The price formed Morning Star pattern and then started the correction. Three Line Break chart confirms a descending movement, Heiken‑Ashi candlestick indicate a bullish pullback.



The H1 chart of the USD/JPY currency pair shows a sideways tendency on the descending trend. Harami pattern indicates the correction. Three Methods pattern and several candlesticks after it indicate that the price may continue falling down. Three Line Break chart indicates a bullish pullback, Heiken Ashi candlesticks 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.