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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: "Star" discriminate in favour of bears

Galina Svetlova

EUR/USD: "Star" discriminate in favour of bears

We’ve got the fourth  “Three Methods” pattern in a row, which led to the new high yesterday. The price reached the upper resistance and formed a “Harami” on this level, which points to a possible beginning of a downward correction. As we can see on the Daily chart, there’re a “Piercing Line” and a “Belt Hold”, so the market was rising until yesterday, when the price met with a resistance. 

EUR/USD: "Star" discriminate in favour of bears

There’re a “Harami” and a “Shooting Star” at the last high. Also, the price formed a pullback from the two upper resistance levels. So, it’s likely to see a bearish correction towards the 34 & 55  Moving Average lines.

EUR
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