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

May 14, 2020 4:47:07 PM by Alexander Zorevyk
Forecast Details
PairGBPJPY
Direction Buy
StatusClosed (131.35)
16:40
16:40
May 14, 2020

+79 p
131.35
Target 2
+54 p
131.10
Target 1
130.55
Entry
-60 p
129.95
Stop Loss
Chart & Analyst Comments
The market has stabilized, the first signs of an uptrend appeared

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. The decrease in the buyers volume, together with the increase in the sellers volume, confirms the need to Buy, according to our trading idea.
  2. The first target is at the level of the previous peak - 131.1, and the second one, in case of an active price increase, is at the level - 131.35