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EURJPY - Upward trend will continue, Long trade by market price recommended

March 24, 2022 9:15:15 AM by Alexander Zorevyk
Forecast Details
PairEURJPY
Direction Buy
StatusClosed (134.50)
9:15
9:15
Mar. 24, 2022

+80 p
134.50
Target 1
133.70
Entry
-80 p
132.90
Stop Loss
Chart & Analyst Comments
main-buy-market-trend-1
  1. The Current Ratio indicator have reached a critical value, too many traders expect a downward movement. In this case, we recommend to Buy only.
  2. The activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
  3. The MVP indicator shows the uptrend. We take this into account as one of the important factors in today's forecast.
  4. We see an accumulation of loss sellers below the current price in the right Order Book. This cluster can act as a support.
  5. Set Take Profit at the local high, beyond which there is a cluster of orders.
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