The market has stabilized, the first signs of an uptrend appeared

January 15, 2020 7:46:12 AM by Alexander Zorevyk
Forecast Details
PairEURJPY
Direction Buy
StatusClosed (122.55)
7:36
7:36
Jan. 15, 2020

+50 p
123.05
Target 1
122.55
Entry
-39 p
122.15
Stop Loss
Chart & Analyst Comments
The market has stabilized, the first signs of an uptrend appeared
  1. Since the CurrentRatio sentiment indicator informs us that the market crowd is selling, we should consider sticking to Buy Orders.
  2. The activity of "fresh" sellers in a downtrend may indicate that the market expects the recovery of the bear trend. However, according to our analysis, this movement is corrective and we expect the price to go up
  3. The price increase will be accompanied by the trigger of market crowd’s stop losses, which in turn will serve as a "fuel" for the upward movement.
  4. MVP line is below the price and acts as a support level.