Japanese Candlesticks Analysis 20.05.2015

May 20, 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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