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

January 17, 2020 7:57:50 AM by Patrick Yang
Forecast Details
PairEURJPY
Direction Buy
StatusClosed (121.35)
Start
End
Jan. 17, 2020
Jan. 24, 2020

+130 p
123.65
Target 1
122.35
Entry
-100 p
121.35
Stop Loss
Chart & Analyst Comments
The market has stabilized, the first signs of an uptrend appeared
  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. There is an increase in the number of bears on the downward movement, followed by correction. We consider this movement as a trap for sellers and look forward for a continuation of the uptrend.
  3. MVP line is below the price and acts as a support level.
  4. Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
  5. 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.