empty
 
 
06.09.2012 11:40 AM
EUR/JPY Candlestick Analysis for September 6, 2012

Daily

This image is no longer relevant

Due to low volatility, the EUR/JPY rate is still flat. Candlestick formations which are being formed from time to time, do not affect the price. We have just seen bullish Harami and bearish Long Legged Doji. However, they cannot move the quotes significantly. Thus, when the flat is over, the rate may grow towards correctional level of 76.4% - 100.44 Fibonacci. At the same time, it can also fall towards 100.0% - 97.01 of Fibonacci. On 4H chart the flat is even more obvious, that is why let us examining this chart better.


4h

This image is no longer relevant

On 4H chart the rebound from correctional level of 61.8% - 98.74 Fibonacci was not unexpected as well as the rebound from correctional level of 50.0% demonstrated earlier. The bullish candlestick formation Absorption was formed which enabled the rise towards Fibonacci level of 61.8%. Now we can expect the rebound from that level without bullish formation with the quotes fall towards 50.0% - 97.86. Overcoming of 50.0% and 61.8% contributes to upward or downward movement respectively. However, fixation above the correctional level of 61.8% is not meaningful as the sideways channel boundary is placed at the level of 99.00.

Summary
Urgency
Analytic
Grigory Sokolov
Start trade
Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $10000 más!
    ¡En Enero, sorteamos $10000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback