EURUSD - Upward trend will continue, Long trade by market price recommended
May 4, 2020 10:31:05 AM
Forecast Details
PairEURUSD
Direction
Buy
StatusClosed (1.087)
+85 p
1.1020
Target 2
+65 p
1.1000
Target 1
1.0935
Entry
-64 p
1.0870
Stop Loss
About Author
Jacob Powell
Expert
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Total votes: 141
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Chart & Analyst Comments
- 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.
- When the price decreases, a signal is formed (orange labels), which implies an upward movement.
- The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
- 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
