The market has stabilized, the first signs of an uptrend appeared
January 17, 2020 7:57:50 AM
Forecast Details
PairEURJPY
Direction
Buy
StatusClosed (121.35)
+130 p
123.65
Target 1
122.35
Entry
-100 p
121.35
Stop Loss
About Author
Patrick Yang
Expert
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Chart & Analyst Comments
- The Current Ratio indicator have reached a critical value, too many traders expect a downward movement. In this case, we recommend to Buy only.
- 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.
- MVP line is below the price and acts as a support level.
- Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
- 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.