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: "Engulfing" brought correction to naught

Galina Svetlova

EUR/USD: "Engulfing" brought the correction to naught

The current flat is going on, which has a support by the 21 Moving Average. There's a “Harami” at the local low, so the market is likely going to reach the nearest resistance line. As we can see on the Daily chart, a reversal “High Wave” and a “Hanging Man” haven’t confirmed yet, so today’s candle is probably going to be a white one.

EUR/USD: "Engulfing" brought the correction to naught

There’re an “Engulfing Bearish” and a “Belt Hold” on the nearest resistance line. Therefore, an “Engulfing Bullish” was formed on the 89 Moving Average. Under this circumstances, the current flat is likely going to be continued.

Scroll to top