Help Ukraine! Today, Ukraine Is Fighting for Freedom and the Future of Democracy in Europe. Help Ukraine! Donate Verified Charity

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

November 29, 2019 8:28:32 AM by Patrick Yang
Forecast Details
Direction Buy
StatusClosed (120.70)
Nov. 29, 2019
Dec. 6, 2019

+150 p
Target 1
-130 p
Stop Loss
Chart & Analyst Comments

Previous price movement provoked sellers to action, but having made a fake manoeuvre, it returned upwards. Now is a good time to enter the market with a Buy Order.

  1. Majority of traders are still holding onto Shorts. This means we should continue to Buy EURJPY.
  2. In this sideways movement, retail traders prefer to hold short trades. There seem to be a major player interest in an upward movement.
  3. In the left orderbook, we see a cluster of stop losses and stop orders right at the level of the previous peak. This is a good level for placing take profit according to our forecast.
    index: 1x 0.033262014389038s
t_/pages/forecast: 1x 0.030176162719727s
t_/common/header-new: 1x 0.019439935684204s
t_/common/head: 1x 0.016033887863159s
t_/common/footer-new: 1x 0.0024290084838867s
router_page: 1x 0.0016891956329346s
router: 1x 0.00076699256896973s
t_/popups/on-download: 1x 0.00050997734069824s
service-routes: 1x 0.00030708312988281s
router_redirection: 1x 0.00013399124145508s
t_/popups/zoom: 1x 1.4066696166992E-5s
----- END OF DUMP (2022-08-11 09:12:08)  -----