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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: "Hammer" triggered upward correction

EUR/USD: "Hammer" triggered upward correction

We’ve got an “Inverted Hammer” at the local low, which has been confirmed enough. Also, there’s a “Harami” on the closest “Window”, so the pair is likely going to test the middle of the last huge black candle once again. As we can see on the Daily chart, here’s a “High Wave”, which points to a possible upward correction. However, bears will probably try to deliver a new low afterwards.

EUR/USD: "Hammer" triggered upward correction

There’s a “Harami” on the 55 Moving Average, which has been confirmed. At the same time, bulls are likely going to test the next 89 Moving Average. If a pullback from this line happens later on, there’ll be an opportunity to have another bearish rally.

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