EURUSD - Upward trend will continue, Long trade by market price recommended

June 2, 2020 6:08:32 AM by Jacob Powell
Forecast Details
Direction Buy
StatusClosed (1.1180)
Jun. 2, 2020

+50 p
Target 1
-45 p
Stop Loss
Chart & Analyst Comments
  1. According to the most brokers’ data, more than half of the traders are currently in short positions on EURUSD. As a result, we recommend considering only Long trades at this time.
  2. The dynamics of the Ratios indicator signals for Long opportunities. Pay attention to the area marked on the image.
  3. The Profit Ratio reversal indicator doesn't react on upward movement. This means that the movement is not fake.
  4. MVP line is below the price and acts as a support level.
  5. In the left orderbook, we see a cluster of stop losses and stop orders right at the level of the previous peak. This is a good level for placing take profit according to our forecast.
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