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

January 5, 2022 6:35:36 AM by Jacob Powell
Forecast Details
PairEURUSD
Direction Sell
StatusClosed (1.1295)
6:31
6:31
Jan. 5, 2022

-60 p
1.1355
Stop Loss
1.1295
Entry
+55 p
1.1240
Target 1
+80 p
1.1215
Target 2
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. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  3. In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
  4. MVP line is above the price and acts as a resistance level.
  5. The first target is at the level of the previous bottom - 1.124, and the second one, in case of an active price decrease, is at the level - 1.1215
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