Japanese Candlesticks Analysis 28.06.2012 (EUR/USD, USD/JPY)
Analysis for June 28th, 2012
EUR/USD
The H4 chart of the EUR/USD currency pair shows a sideways correction on the descending trend. Window, which is the closest to the price, is a resistance level. Three Line Break chart confirms a descending movement, Hammer pattern and Heiken Ashi candlesticks indicate the correction.
The H1 chart of the EUR/USD currency pair shows a sideways correction on the descending trend. The lower border of Window is a resistance level. Evening Doji Star pattern indicates the end of the correction. Three Line Break chart indicates the correction, Heiken Ashi candlesticks confirm a descending movement.
USD/JPY
The H4 chart of the USD/JPY currency pair shows a bearish tendency on the sideways trend, which started after Shooting Star and Engulfing Bearish patterns, and continued after Doji Star pattern. Three Line Break and Heiken‑Ashi candlestick charts indicate a descending movement.
The H1 chart of the USD/JPY currency pair shows the end of the correction on the descending trend after Evening Star pattern. Window 2012.02.20 is a resistance level. Three Line Break and Heiken Ashi candlesticks indicate a descending movement.
GBPUSD, Time Frame H4 – Tenkan-Sen and Kijun-Sen are under pressure of “Dead Cross” (1), both lines are directed downwards. Kumo Cloud is going down (2), Senkou Span A is moving downwards, and Senkou Span B is horizontal. Chinkou Lagging Span is below the chart, the price is below the indicator’s line. In the near term, we can expect resistance of Tenkan-Sen and Senkou Span B, and the price to continue moving falling down.
GBPUSD, Time Frame Н1 – Tenkan-Sen and Kijun-Sen intersected below Kumo Cloud (1), both lines are directed downwards. Kumo Cloud is going down (2), Senkou Spans A and B are also moving downwards. Chinkou Lagging Span is below the chart, the price is below the indicator’s lines. In the near term, we can expect resistance of Tenkan-Sen and Kijun-Sen, and the price to move downwards.
GOLD
XAUUSD, Time Frame H4 – Tenkan-Sen and Kijun-Sen are under pressure of “Dead Cross” (1), Tenkan‑Sen is horizontal, and Kijun-Sen is directed downwards. Ichimoku Cloud is going down (2), Senkou Spans A and B are horizontal. Chinkou Lagging Span is below the chart, the price is below the indicator’s lines. In the near term, we can expect resistance of Tenkan-Sen and the price to move downwards.
XAUUSD, Time Frame Н1 – Tenkan-Sen and Kijun-Sen are very close to each other inside Kumo Cloud and may intersect forming “Dead Cross”, Tenkan‑Sen is directed downwards, and Kijun-Sen is horizontal. Ichimoku Cloud is going down (2), Senkou Span A is moving downwards, and Senkou Span B is horizontal. Chinkou Lagging Span is on the chart, the price is below the indicator’s lines. In the near term, we can expect resistance of Kijun-Sen and Senkou Span A, and the price to continue falling down.
Murray Math Lines 28.06.2012 (USD/JPY, EUR/JPY, USD/CAD)
Analysis for June 28th, 2012
USD/JPY
The USD/JPY currency pair is trying to break the daily Super Trend once again. If the bears succeed in doing it and are able to keep the price below the 3/8 level, nothing will prevent the market from continuing falling down towards the 0/8 one. We can’t exclude a possibility that the latter level may also be broken and the price will move lower.
At the H1 chart the pair is moving below the Super Trends’ lines, which are in the “red zone”. The market hasn’t been able to stay above the 4/8 level for a long time. Most likely, in the nearest future the price will continue falling down towards the 0/8 level.
EUR/JPY
The bears are trying to break the daily Super Trend’s line one more time. If the indicator’s line is broken and then the market is able to stay below the 3/8 level, the price will continue falling down towards the 0/8 one.
At the H1 chart the pair has moved very close to the 0/8 level. There is a possibility that the price may break this level in the nearest future and continue moving downwards. If the price breaks the -2/8 level, the lines at the cart will be redrawn.
USD/CAD
The USD/CAD currency pair has been moving near the 4/8 level for several days. At the moment the bulls are trying to break the daily Super Trend’s line backwards. If they succeed to keep the price above the line, we can expect the price to reach the 8/8 level within the next several days.
At the H1 chart the bulls are trying to leave the channel between the 5/8 and 3/8 levels after quite a long consolidation. In the near term, we can expect the price to reach the 8/8 level. There is a possibility that the market may break this level and the pair will continue growing up.
Forex Technical Analysis 2012/29/06 (EUR/USD, GBP/USD, USD/CHF, USD/CAD, AUD/USD) For
Forecast for June 29th, 2012
EUR/USD
The EUR/USD currency pair has almost reached the target defined earlier, the price continues moving downwards. Currently the closest target of the fall is the area of 1.2325. One can consider selling Euro from the current levels with the stop above 1.2520. Judging by the structure of the H1 chart, we can say that there is a possibility that Euro may fall down into the area of 1.21. If the price breaks the level of 1.23, Euro will continue moving downwards.
GBP/USD
The GBP/USD currency pair continues moving according to the forecast, the closest target of the fall is the area of 1.5380. One can consider selling the pair from the current levels with the stop above 1.5650. The next target of the fall will be the area of 1.5270. If Pound grows up higher than 1.5720, this scenario will be cancelled.
USD/CHF
The USD/CHF currency pair continues moving inside the ascending pattern with the target in the area of 0.9720. One can consider buying Franc from the current levels with the stop below 0.9580 and increase the amount of purchases only after the price breaks the level of 0.9680. The ascending pattern at the daily chart of the pair indicates that the price may continue growing up towards the area of 0.9890. If Franc falls down lower than 0.9410, this scenario will be cancelled.
USD/CAD
At the H4 chart of the USD/CAD currency pair we have “head & shoulders” reversal pattern forming with the target in the area of 1.0155. One can consider selling the pair aggressively from the current levels with the stop above 1.0285. We recommend to increase the amount of sales only after the price breaks the level of 1.0220. If Canadian Dollar grows up higher than 1.0310, this scenario will be cancelled.
AUD/USD
Australian Dollar is moving inside “flag” pattern, the closest target of the fall is the area of 0.99. One can consider selling the pair from the current levels with the stop above 1.0120. The final target of the fall is the area of 0.9810. We recommend to increase the amount of sales only after the price breaks the level of 1.0040. If the pair breaks the level of 1.0130, this scenario will be cancelled.
New Zealand Dollar is still being corrected. It looks like the price is forming wave (2). There is a possibility that in the nearest future the pair may make a reverse and start moving downwards while forming wave (3).
As we can see at the H1 chart, wave (2) is taking the form of zigzag pattern. On the minor wave level the price has finished wave B in the form of flat pattern and right now is forming an impulse in wave C. Most likely, the pair will start falling down in wave 1 in the nearest future.
EUR/USD
It looks like Euro is forming wave 2. In the near term, we can expect the price to grow up a bit, however, then the pair may make a reverse and start moving downwards in wave 3. In this case Euro may reach the level of 1.2000 by the end of the next week.
We may assume that the price has completed a descending impulse in wave 1 and then started forming the second wave very fast. However, the bulls are likely to become weaker after a while. The local correction may continue during Friday, but next Monday we can expect the price to make a reverse.
Japanese Candlesticks Analysis 29.06.2012 (EUR/USD, USD/JPY)
Analysis for June 29th, 2012
EUR/USD
The H4 chart of the EUR/USD currency pair shows an ascending tendency on the sideways trend. Window, which is the closest to the price, is a resistance level. Inverted Hammer pattern, Three Line Break and Heiken Ashi candlestick charts confirm an ascending movement.
The H1 chart of the EUR/USD currency pair shows a trend change. Window is a resistance level. Three Line Break chart confirms an ascending movement, Heiken Ashi candlesticks indicate a bearish pullback.
USD/JPY
The H4 chart of the USD/JPY currency pair shows a bearish tendency on the sideways trend, which started after Shooting Star and Engulfing Bearish patterns, and continued after Three Methods and Doji Star patterns. Three Line Break chart confirms a descending movement, Heiken‑Ashi candlesticks indicate the correction.
The H1 chart of the USD/JPY currency pair shows the end of the correction on the descending trend after Evening Star pattern. Window 2012.02.20 is a resistance level. Three Line Break chart indicates the correction, Heiken Ashi candlesticks confirm a descending movement.
GBPUSD, Time Frame H4 – Tenkan-Sen and Kijun-Sen intersected below Kumo Cloud (1), both lines are horizontal. Kumo Cloud is going down (2), Senkou Spans A and B are also horizontal. Chinkou Lagging Span is on the chart, the price is on Tenkan-Sen and Kijun-Sen. In the near term, we can expect resistance of Senkou Span B and the price to continue moving falling down.
GBPUSD, Time Frame Н1 – Tenkan-Sen and Kijun-Sen intersected below Kumo Cloud forming “Golden Cross” (1), Tenkan-Sen is directed upwards, and Kijun-Sen is horizontal. Kumo Cloud is going up (2), Senkou Span A turned upwards, and Senkou Span B is also horizontal. Chinkou Lagging Span is above the chart, the price is inside Kumo Cloud. In the near term, we can expect Support of Senkou Span A, resistance of Tenkan-Sen and the price to move downwards. Stop Loss is placed above Tenkan-Sen.
GOLD
XAUUSD, Time Frame H4 – Tenkan-Sen and Kijun-Sen are under pressure of “Dead Cross” (1), Tenkan‑Sen is directed downwards, and Kijun-Sen is horizontal. Ichimoku Cloud is going down (2), Senkou Spans A and B are moving downwards. Chinkou Lagging Span is on the chart, the price is on Kijun-Sen, below Kumo Cloud. In the near term, we can expect resistance of Kijun-Sen and the price to move downwards.
XAUUSD, Time Frame Н1 – Tenkan-Sen and Kijun-Sen intersected below Kumo Cloud forming “Golden Cross” (1), Tenkan‑Sen is directed upwards, and Kijun-Sen is horizontal. Ichimoku Cloud is going down (2), Senkou Span A is moving upwards, and Senkou Span B is horizontal. Chinkou Lagging Span is on the chart, the price is below Kumo Cloud. In the near term, we can expect resistance of Senkou Spans A and B, and the price to fall down.
Murray Math Lines 29.06.2012 (USD/JPY, EUR/GBP, SILVER)
Analysis for June 29th, 2012
USD/JPY
At the daily chart the USD/JPY currency pair is still heading towards the 0/8 level. Currently the market is consolidating, but it may start moving downwards again in the nearest future. We can expect the price to reach a new local minimum next week.
The price has rebounded from the H4 Super Trend’s line and the 4/8 level, that’s why I’ve opened one more sell order. Now the bears have to break the daily Super Trend. If they succeed in doing it, the price will continue falling down towards the 0/8 level.
EUR/GBP
The correction is taking too much time. However, the chart structure indicates that the consolidation may continue. The target is still at the 8/8 level.
At the H4 chart the bulls are trying to break the 4/8 level. If the buyers are able to keep the price above it, the pair will continue growing up towards the 8/8 one. Later, the price may make a reverse at this level.
SILVER
That’s the third time the price has entered the resistance area between the 1/8 and 0/8 level at the daily chart. However, we can expect it to rebound once again. The first target for the bulls is the 3/8 level. If the price breaks this level, the instrument will continue moving upwards.
At the H4 chart the bears will probably test the 1/8 one more time. Later the price is likely to make a reverse and start moving upwards. The short-term target is at the 4/8 level and we can’t exclude a possibility that the market may break it and continue growing up.
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Japanese Candlesticks Analysis 28.06.2012 (EUR/USD, USD/JPY)
