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

EURUSD - Downward trend will continue, Short trade by market price recommended

November 1, 2021 10:09:20 AM by Jacob Powell
Forecast Details
PairEURUSD
Direction Sell
StatusClosed (1.1620)
8:10
8:10
Nov. 1, 2021

-55 p
1.1620
Stop Loss
1.1565
Entry
+55 p
1.1510
Target 1
+75 p
1.1490
Target 2
Chart & Analyst Comments
main-sell-market-trend-1

For today's forecast, we recommend a Sell Order at this recommended market price - 1.1565. This idea is based on the following analysis:

  1. According to the most brokers’ data, more than half of the traders are currently in long positions on EURUSD. As a result, we recommend considering only Short trades at this time.
  2. The activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
  3. The number of profitable sellers has exceeded 75%. The downtrend is in its active phase. This confirms potential for a Short trade.
  4. MVP line is above the price and acts as a resistance level.
  5. The first target is at the level of the previous bottom - 1.151, and the second one, in case of an active price decrease, is at the level - 1.149
    index: 1x 0.035979032516479s
t_/pages/forecast: 1x 0.032891035079956s
t_/common/header-new: 1x 0.020431041717529s
t_/common/head: 1x 0.016613960266113s
t_/common/footer-new: 1x 0.0027639865875244s
router_page: 1x 0.0017290115356445s
router: 1x 0.00068283081054688s
t_/popups/on-download: 1x 0.00059604644775391s
service-routes: 1x 0.0002739429473877s
router_redirection: 1x 0.00013303756713867s
t_/popups/zoom: 1x 4.2915344238281E-5s
----- END OF DUMP (2022-07-02 03:11:07)  -----