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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: "Inverted Hammer" stopped bears

EUR/USD: "Inverted Hammer" stopped bears

There’s an “Engulfing” at the last high, which was a reason for the following decline. Currently, the price is trading in a range of the “Window”, so a local downward movement becomes possible. As we can see on the Daily chart, there isn’t any clear pattern at the last maximum. Today’s candle has a huge shadow, which could be smaller at the end of the day.

EUR/USD: "Inverted Hammer" stopped bears

We’ve got an “Inverted Hammer” and an “Engulfing” at the local low. Also, there’s a possible “Harami”, so the market is likely going to reach the nearest support shortly.

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