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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" gives a free hand to bulls

EUR/USD: "Engulfing" gives a free hand to bulls

Despite of the current upward movement, the main bearish trend is still on the table. So, it’s likely that the middle of the last huge black candle is going to act as a resistance once again. Also, we haven’t got any reversal pattern so far, which makes possible an achievement of the 89 Moving Average. As we can see on the Daily chart, there’re two “High Waves”, which both have been confirmed, so bulls are probably going to reach the nearest resistance level. 

EUR/USD: "Engulfing" gives a free hand to bulls

There’s a “Shooting Star” at the local high, but also we’ve got an “Engulfing” at the last low, which has been confirmed enough. So, the current upward movement is likely going to move on.

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