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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: "Shooting Star" highlight a possibility of local correction

EUR/USD: "Shooting Star" highlight a possibility of local correction

The price is trading inside the “Window”. We haven’t got any reversal pattern so far, which makes possible an achievement of the 144 Moving Average. As we can see on the Daily chart, there’s a “Hammer” at the local low, which led to the current rise. If we see any bearish pattern on the 34 Moving Average, there’ll be an opportunity to have another downward movement.

EUR/USD: "Shooting Star" highlight a possibility of local correction

There’s a bullish movement in progress, but we have a “Shooting Star” at the local high. So, the market is likely going to get a support on the previously formed “Three Methods” pattern. If a pullback from this support happens, bulls will probably deliver a new high.

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