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

March 5, 2020 6:13:41 AM by Jacob Powell
Forecast Details
PairEURUSD
Direction Buy
StatusClosed (1.12)
6:09
6:09
Mar. 5, 2020

+90 p
1.1225
Target 2
+65 p
1.1200
Target 1
1.1135
Entry
-64 p
1.1070
Stop Loss
Chart & Analyst Comments
EURUSD - Upward trend will continue, Long trade by market price recommended

For today's forecast, we recommend a Buy Order at this recommended market price - 1.1135. This idea is based on the following analysis:

  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. In this sideways movement, retail traders prefer to hold short trades. There seem to be a major player interest in an upward movement.
  3. The first target is at the level of the previous peak - 1.12, and the second one, in case of an active price increase, is at the level - 1.1225