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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: consolidation between two "Engulfing" patterns

EUR/USD: consolidation between two "Engulfing" patterns

We’ve got a bearish “Harami” at the local high, but this pattern hasn’t been confirmed enough. However, there’s also a bullish “Harami”, which is conversely has a confirmation. Therefore, the market is likely going to rise until any reversal pattern arrives. As we can see on the Daily chart, here’s a “Doji” at the last high, but its confirmation hasn’t formed yet, so today’s candle will have a chance to be white.

EUR/USD: consolidation between two "Engulfing" patterns

There’s an “Engulfing Bullish” on the 21 Moving Average, which has confirmed the previously formed support level. At the same time, we’ve got an “Engulfing Bearish” near the two small “Windows”, so the current intraday flat is likely going to be continued.

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