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

Jacob Powell on FXSSI Jacob Powell Expert
main-sell-market-trend-1
Forecast Details
PairEURUSD
Publication Time8/2/24 7:12 AM
Direction Sell
Status Closed (1.0825)
7:12
7:12
Aug. 2, 2024
Forecast
-35 p
1.0825
Stop Loss
1.0790
Entry
+30 p
1.0760
Target 1
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Chart & Analyst Comments

main-sell-market-trend-1
  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 MVP indicator shows the downtrend. We take this into account as one of the important factors in today's forecast.
  3. The trade is aimed at the previous low breakout. The SLC indicator signals us to set our target at the level where most Stop Losses are placed - 1.076
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