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

May 4, 2020 10:31:05 AM by Jacob Powell
Forecast Details
PairEURUSD
Direction Buy
StatusClosed (1.0870)
10:26
10:26
May 4, 2020

+85 p
1.1020
Target 2
+65 p
1.1000
Target 1
1.0935
Entry
-65 p
1.0870
Stop Loss
Chart & Analyst Comments
main-buy-market-trend-1
  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. When the price decreases, a signal is formed (orange labels), which implies an upward movement.
  3. The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
  4. The first target is at the level of the previous peak - 1.1, and the second one, in case of an active price increase, is at the level - 1.102
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