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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: "Engulfing Bullish" points to an upward correction

EUR/USD: "Engulfing Bullish" points to an upward correction

The last “Window” has been broken right after a “Three Methods” pattern was formed. Therefore, the market is likely going to reach the next “Window” in the short term. As we can see on the Daily chart, there’s a “Three Methods” as well, so it’s likely to see a decline towards the 89 Moving Average during the day.

EUR/USD: "Engulfing Bullish" points to an upward correction

The pair has been falling down since a “Harami” arrived on the Moving Average line. Considering an “Engulfing” at the local low, the price is likely going to achieve the nearest resistance. If a pullback from this level happens, there’ll be an opportunity for bears to move on and deliver a new low.

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