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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: "Inverted Hammer" set up bullish correction

EUR/USD: "Inverted Hammer" set up bullish correction

We’ve got a bullish “Inverted Hammer”, but its confirmation is a quite weak. Therefore, the price is likely going to test the nearest “Window” 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, there isn’t any reversal pattern so far. However, if we see one on the nearest support line, bulls will probably try to deliver an upward correction.

EUR/USD: "Inverted Hammer" set up bullish correction

There’s another “Inverted Hammer” at the local low, which has been confirmed enough. So, the market is likely going to reach the 21 Moving Average during the day. If we have a pullback from this line, bears are likely going to break the last low.

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