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Japanese Candlesticks Analysis 16.08.2012 (EUR/USD, USD/JPY)

16.08.2012

Analysis for August 16th, 2012

EUR/USD

The H4 chart of the EUR/USD currency pair shows a sideways tendency. The closest Windows are support/resistance levels. Shooting Star and Three Methods patterns, Three Line Break chart and Heiken Ashi candlesticks indicate a descending movement.



The H1 chart of the EUR/USD currency pair shows a bearish tendency. The closest Windows are support/resistance levels. Engulfing Bearish 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 bullish tendency. The closest Window, which was a resistance level, has been broken. Three Line Break chart and Heiken Ashi candlesticks confirm an ascending movement.



The H1 chart of the USD/JPY currency pair shows a bullish tendency. The largest Window is a support level. Three Line Break chart confirms the current trend; Evening Star pattern and Heiken Ashi candlesticks indicate a bearish pullback.

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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.