Monday, 7 May 2012


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Japanese Candlesticks Analysis 07.05.2012 (EUR/USD, USD/JPY)

07.05.2012 / 10:04

Analysis for May 7th, 2012

EUR/USD

The H4 chart of the EUR/USD currency pair shows a bearish tendency on the descending trend, which started after Engulfing Bearish pattern. A new Window is a resistance level. Three Line Break and Heiken Ashi candlestick charts confirm a descending movement.



The H1 chart of the EUR/USD currency pair shows a correction on the descending trend. A new Window is a resistance level. Three Line Break and Heiken Ashi candlestick charts confirm a descending movement.


USD/JPY

The H4 chart of the USD/JPY currency pair shows a bullish correction on the descending trend, which was started after Belt Hold and Tweezers patterns. Three Line Break chart confirms an ascending movement, Heiken‑Ashi candlesticks indicate a descending trend.



The H1 chart of the USD/JPY currency pair shows a bullish correction on the descending trend, which is indicated by Hammer pattern. Window is a support level. Three Line Break and Heiken Ashi candlestick charts indicate a descending trend.


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