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Galina has been using the Japanese Candlesticks in trading since 2004. Meanwhile, she has wrote dozens of articles about these patterns, because nowadays it's possible to see a lot of things that couldn't be discovered in the good old days. Everyday Galina share her expert opinion about EUR/USD and USD/JPY on the fxBazooka.com.

EUR/USD: "Engulfing" points to bearish correction

EUR/USD: "Engulfing" points to bearish correction

The price has been moving up since Monday. Moreover, the nearest “Window” has been broken, but there’s a possible “Harami” pattern. If it confirms, bears will probably try to deliver a local correction. As we can see on the Daily chart, the last candles are bullish and we haven’t got any reversal pattern so far. In this case, the market is likely going to rise until any bearish pattern appears.

EUR/USD: "Engulfing" points to bearish correction

There’s a possible “Engulfing” pattern at the local high. So, the pair is likely going to get a support on the lower side of the previously broken “Window”. If we see a pullback from this level, there’ll be an opportunity to have a new high.

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