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

October 21, 2019 6:15:49 AM by Patrick Yang
Forecast Details
PairEURUSD
Direction Buy
StatusClosed (1.109)
Start
End
Oct. 21, 2019
Oct. 28, 2019

+144 p
1.1300
Target 1
1.1155
Entry
-124 p
1.1030
Stop Loss
Chart & Analyst Comments
The market has stabilized, the first signs of an uptrend appeared

For this forecast, we recommend to set Buy Limit at the following price - 1.1155. This idea is based on the following analysis:

  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 dynamics of the Ratios indicator signals for Long opportunities. Pay attention to the area marked on the image.
  3. The decrease in the buyers volume, together with the increase in the sellers volume, confirms the need to Buy, according to our trading idea.
  4. MVP line is below the price and acts as a support level.
  5. We see an accumulation of loss sellers below the current price in the right Order Book. This cluster can act as a support.