Japanese Candlesticks Analysis 20.05.2015 (EUR/USD, USD/JPY)
20.05.2015
Analysis for May 20th, 2015
EUR USD, “Euro vs. US Dollar”
The H4 chart of EUR USD shows a bearish tendency; the main trend may reverse downwards. Three Methods continuation pattern, Three Line Break chart, and Heiken Ashi candlesticks confirm a descending movement.
As we can see at the H1 chart of EUR USD, after forming bearish Three Methods continuation pattern, the price has broken the lower Window, which now is a support level. Three Line Break chart indicates a descending movement; bullish Harami pattern and Heiken Ashi candlesticks confirm a bullish pullback.
USD JPY, “US Dollar vs. Japanese Yen”
The H4 chart of USD JPY shows a bullish tendency. The upper Window is broken, now it’s a support level. Shooting Star and Harami patterns indicate a possible correction; Three Line Break chart and Heiken Ashi candlesticks confirm that an ascending tendency continues.
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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.