GBPJPY - Upward trend will continue, Long trade by market price recommended
April 2, 2020 6:46:13 PM
Forecast Details
PairGBPJPY
Direction
Buy
StatusClosed (132.75)
+80 p
134.35
Target 1
133.55
Entry
-80 p
132.75
Stop Loss
About Author
Alexander Zorevyk
Expert
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Total votes: 2
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Chart & Analyst Comments
- The ratio of buyers and sellers is close to parity, it's time to think about price turning up.
- The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
- The Ratios indicator shows the change in the ratio of market players towards sellers. Their increase while the uptrend may indicate the activity of averaging traders. This can serve as "fuel" for further uptrend.
- We see an accumulation of loss sellers below the current price in the right Order Book. This cluster can act as a support.
- 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.
