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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 Time7/2/24 7:26 AM
Direction Sell
Status Closed (1.0770)
7:26
7:26
Jul. 2, 2024
Forecast
-50 p
1.0770
Stop Loss
1.0720
Entry
+55 p
1.0665
Target 1
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Chart & Analyst Comments

main-sell-market-trend-1
  1. The ratio of buyers and sellers is close to parity, it's time to think about price turning down.
  2. We see an accumulation of loss buyers above the current price in the right Order Book. This cluster can act as a resistance.
  3. Price broke through the MVP line and rushed down. We consider this a sign for further EURUSD price decrease.
  4. 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 - 1.0665
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