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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: "Shooting Star" has stopped bulls

Galina Svetlova

EUR/USD: "Shooting Star" has stopped bulls

We’ve got a confirmation of the previously formed “Hammer” pattern. Moreover, there’s a possible “Three Methods” in progress, so the market is likely going to reach the 34 Moving Average. If price gets a resistance on this line, it'll be a chance for bears to resume their rally. As we can see on the Daily chart, here's a “Tower” pattern, but we’ve got a “High Wave” at the local low, so today’s candle is probably going to be a white one. If the price forms a pullback from the middle of the huge black candle, a new low will be delivered soon.

EUR/USD: "Shooting Star" has stopped bulls

The price has been moving in a flat since a “Hammer” appeared at the last low. Also, we’ve got a “Three Methods” pattern, which points to a possibility that the current correction is likely going to be continued in the direction of the 55 Moving Average. 

EUR
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