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 (1.087)
10:26
10:26
May 4, 2020

+85 p
1.1020
Target 2
+65 p
1.1000
Target 1
1.0935
Entry
-64 p
1.0870
Stop Loss
Chart & Analyst Comments
EURUSD - Upward trend will continue, Long trade by market price recommended
  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