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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: bearish patterns has been confirmed

Galina Svetlova

EUR/USD: bearish patterns has been confirmed

We've got a “Hammer” at the last low, but it hasn’t confirmed yet. Considering a pullback from the nearest “Window”, it’s possible to see an upward correction towards the 55 Moving Average. If this line acts as a resistance, bears will probably try to resume their rally. As we can see on the Daily chart, there're a lot of bearish patterns. All of them formed a “Tower” pattern, so it’s likely to see the market lower in the short term.

EUR/USD: bearish patterns has been confirmed

The pair has been moving in flat’s range since a “Hammer” was arrived at the local low. The market is likely going to form a deeper correction towards the 34 Moving Average, which can act as a resistance. If so, bears will probably try to return and deliver a new low.

EUR
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