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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: new yearly low is coming because of "Shooting Star"

EUR/USD: new yearly low is coming because of "Shooting Star"

There’s a correction inside the main bearish trend. Also, the price faced a resistance on the 34 & 55 Moving Average lines. Moreover, there’s a “Shooting Star” at the local high, which has been confirmed by the “Three Line Strike” pattern. However, we’ve got an “Engulfing” at the local low, but its confirmation hasn’t arrived yet, so the price is likely going to reach the 34 Moving Average once again.

EUR/USD: new yearly low is coming because of "Shooting Star"

We’ve got a reversal “Shooting Star” pattern, which has been confirmed enough. At the same time, if we see any bullish pattern on the nearest “Window”, bulls are likely going to deliver an upward correction. As we can see on the Daily chart, there’s a “Harami” at the local high, but it hasn’t been confirmed yet. Therefore, bears will probably try to test the closest support line, which could bring any kind of bullish pattern.

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