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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: "window" acts as a support

Galina Svetlova

EUR/USD: "window" acts as a support

The pair has been contracting since a “Shooting Star” arrived last week. There’s a “Three Methods” pattern on the nearest “Window”. We haven’t got any reversal patterns, so it’s likely that a decline will go on towards Moving Average lines and the lower side of “Window” area. As we can see on the Daily chart, the 89 Moving Average line acts as a support. The last candles are bearish so far, so the downward movement is probably going to the nearest support line.

EUR/USD: "window" acts as a support

There's a flat in progress under the previously formed small “Window”. The last candles on the 55 Moving Average line are bearish, so we can expect that the current correction is going to be continued towards the nearest support line on the one-hour chart.

EUR
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