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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: "Shooting Star" led to bearish correction

EUR/USD: "Shooting Star" led to bearish correction

We’ve got a “Doji” and a “Tower” at the local high, but these patterns haven’t been confirmed yet. So, the market is likely going to test the nearest support line. If we have a pullback from this line, bulls will probably try to deliver a new high. As we can see on the Daily chart, there’re a “Hammer” and a “Harami”, which both have a confirmation. Therefore, the pair is likely going reach the closest resistance line.

EUR/USD: "Shooting Star" led to bearish correction

There’s a support by the Moving Averages. Also, we’ve got a confirmed “Shooting Star”, so bears are likely going to test the nearest support line, which could reverse the price movement into an upward direction.

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