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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: "Window" acting as a resistance

EUR/USD: "Window" acting as a resistance

The price has been rising inside the “Window” and reached its upper side. Because of we haven’t got any reversal pattern so far, bulls are likely going to get a resistance on the 89 Moving Average in the short term. As we can see on the Daily chart, there’s a “High Wave” at the local low, which has been confirmed. Moreover, there’s a possible “Three White Soldiers” pattern, which hasn’t been finished yet. On the other hand, the nearest resistance line could bring a bearish pattern. If so, a downward movement becomes possible.

EUR/USD: "Window" acting as a resistance

Bulls found a lodgement above the 144 Moving Average. However, there’s a bearish “Shooting Star”, but it hasn’t been confirmed yet. Therefore, the price is likely going to test nearest support line during the day. If we see a pullback from this line, buyers will probably try to deliver a new high shortly.

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