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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 going to come back to the market

EUR/USD: bears going to come back to the market

There’s a resistance by the upper “Window”. Also, we’ve got an “Engulfing” pattern, but it hasn’t been confirmed yet. Therefore, the market is likely going to reach a resistance by the middle of the last huge black candle. If a pullback from this level happens, there’ll be an opportunity to have another downward movement. As we can see on the Daily chart, there’re a couple of “High Waves”, but their confirmation hasn’t arrived yet. So, a downward movement is going to move on until any reversal pattern forms.

EUR/USD: bears going to come back to the market

We’ve got a local correction under the upper “Window”. At the same time, there’s a resistance by the 55 Moving Average, but we have a confirmed “Harami” at the local low. So, the market is likely going to test the 89 Moving Average during the day. If we see a pullback from this line, a downward movement becomes possible.

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