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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: "Harami" played into the bulls hands

Galina Svetlova

EUR/USD: "Harami" played into the bulls hands

The market has been rising, which just brought a new high. Previously, the pair got a support on the 21 Moving Average and a “Three Methods” pattern has been formed afterwards. So, the price is likely going to continue moving up, but also there’s an opportunity to see a local correction on the way. At the same time, we’ve got a “High Wave” and a “Hanging Man” on the Daily chart, but they haven’t confirmed yet, so the market can ignore them easily. Under this circumstances, today’s candle is likely going to be a bullish one.

EUR/USD: "Harami" played into the bulls hands

We’ve got an “Engulfing” and a “Harami” on the 55 Moving Average, which led to the current rise and a new high. We've got a possible “Shooting Star”, but it hasn't confirmed yet. So, it’s likely to see a downward correction from the nearest resistance line during the day. Anyway, bulls are still have enough power to resume their rally after the local correction.

EUR
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