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

August 4, 2022 6:34:17 AM by Jacob Powell
Forecast Details
PairEURUSD
Direction Sell
StatusClosed (1.0220)
6:34
6:34
Aug. 4, 2022
-55 p
1.0220
Stop Loss
1.0165
Entry
+55 p
1.0110
Target 1
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 Profit Ratio reversal indicator doesn't react on downward movement. This means that the movement is not fake.
  3. The present level of MVP, which is above the current price, favors Sell Orders.
  4. Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.
  5. The SLC indicator displays the levels where there are Stop Losses acting as targets for our trading idea.
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