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

Jacob Powell on FXSSI Jacob Powell Expert
main-buy-market-trend-1
Forecast Details
PairEURUSD
Publication Time8/5/24 7:06 AM
Direction Buy
Status Closed (1.0950)
7:06
7:06
Aug. 5, 2024
Forecast
+40 p
1.0950
Target 1
1.0910
Entry
-35 p
1.0875
Stop Loss
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Chart & Analyst Comments

main-buy-market-trend-1
  1. The Current Ratio indicator have reached a critical value, too many traders expect a downward movement. In this case, we recommend to Buy only.
  2. The activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
  3. MVP line is below the price and acts as a support level.
  4. The SLC indicator displays a cluster of Stop Losses and Stop orders at the previous high level, which according to our forecast, is good for placing Take Profit.
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