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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" helped bears to get up speed

EUR/USD: "Engulfing" helped bears to get up speed

The price has got a resistance on the upper “Window” and the 89 Moving Average. So, we’ve got an “Engulfing” at the local high, which has been strongly confirmed. Therefore, bears are likely going to move on in the short term, but only when the current local correction ends. As we can see on the Daily chart, the last candles seem like an “Engulfing” pattern, so today’s candle is probably going to be black.

EUR/USD: "Engulfing" helped bears to get up speed

Bears have been pushing the market lower and lower. The last “Three Methods” pattern acted as a resistance for several times, so the price is likely going to test the local low once again. If we see a pullback later on, there’ll be an opportunity to have an upward movement in the direction of the Moving Averages.

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