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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 is about to deliver a new low

EUR/USD: bears is about to deliver a new low

The main trend is a still bearish. Also, the middle of the last huge black candle has acted as a resistance. However, the last “Engulfing” pattern hasn’t been confirmed, so the market is likely going to test the nearest resistance once again. If we see a pullback from this line, bears will probably try to deliver a new low. As we can see on the Daily chart, there’s a bullish “Harami”, but it hasn’t been confirmed yet. Anyway, bears are likely going to reach the closest support line soon.

EUR/USD: bears is about to deliver a new low

The price has been moving up and down in a range of the “Window”. Moreover, there’s a strong support by the 55 Moving Average, but the last candles are so variable. Under this circumstances, the pair is likely going to get a resistance on the 89 Moving Average, which could reverse the price movement in the direction of the last low. 

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