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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: bears on the way towards the nearest "Window"

EUR/USD: bears on the way towards the nearest "Window"

The pair has been falling down since a “Shooting Star” was formed at the local high. Currently, we’ve got an “Inverted Hammer”, but this pattern hasn’t been confirmed yet. So, the market is likely going to get a resistance on the 21 Moving Average, which is strong enough to help bears continue their rally. As we can see on the Daily chart, there’s a pattern, which seems like an “Engulfing”. Therefore, the price is likely going to reach the 34 Moving Average as a support.

EUR/USD: bears on the way towards the nearest "Window"

We’ve got a support by the nearest “Window”, which could bring a bullish pattern during the day. So, the market is likely going to test the 55 Moving Average. If we see a pullback from this line, bears will probably try to deliver a new low very soon.

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