The market has stabilized, the first signs of an uptrend appeared
May 11, 2020 5:42:49 AM
Forecast Details
PairUSDCHF
Direction
Buy
StatusClosed (0.9725)
+74 p
0.9800
Target 2
+50 p
0.9775
Target 1
0.9725
Entry
-55 p
0.9670
Stop Loss
About Author
Alexander Zorevyk
Expert
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Total votes: 9
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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.
- 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.
- We see a sharp increase in sell orders as indicated by a number of brokers, which may indicate an interest of a big market player. We are expecting an upward movement.
- Here we see an accumulation of sellers "locked" with a loss positions. We consider this zone 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.
