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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: correction is in progress after the "Doji"

Galina Svetlova

EUR/USD: correction is in progress after the "Doji"

We’ve got a “Doji” and an “Engulfing” at the local high, but both of them haven’t confirmed yet, because the last candles formed in a range of the previously ended “Three Methods” pattern. So, the current correction has a reason to go on and finally bulls are likely going to reach the nearest resistance line. As we can see on the Daily chart, here’s a “Hanging Man” pattern, but it hasn't confirmed, so the current rise still has a chance to be continued.

EUR/USD: correction is in progress after the "Doji"

There’s a flat in progress, which brought a “Harami” on the 55 Moving Average. The market is likely going to test the 89 Moving Average once again. If we see a pullback from this line, then it’ll be an open door for a new stage of bullish rally.

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