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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: "Hammer" points to possible bullish correction

EUR/USD: "Hammer" points to possible bullish correction

We’ve got a “Hammer” and a “Harami” at the last local lows, but their confirmation is a quite weak. So, the market is likely going to test the nearest support line once again. If a pullback from this level happens, there’ll be an opportunity to have an upward correction. As we can see on the Daily chart, the price has achieved the 89 Moving Average, so bulls will probably try to deliver a pullback from this line.

EUR/USD: "Hammer" points to possible bullish correction

The main trend is a still bullish, but we’ve got a “Hammer” at the local low. Therefore, the pair is likely going to get a resistance on the 21 Moving Average. If a pullback from this line happens, the nearest support could be tested again.

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