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

November 5, 2021 6:58:32 AM by Jacob Powell
Forecast Details
PairEURUSD
Direction Sell
StatusClosed (1.1555)
6:49
6:49
Nov. 5, 2021

-55 p
1.1610
Stop Loss
1.1555
Entry
+60 p
1.1495
Target 1
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. The activity of "fresh" buyers in an uptrend may indicate that the market expects the recovery of the bull trend. However, according to our analysis, this movement is corrective and we expect the price to go down.
  3. The Ratios indicator demonstrates a market shift towards buyers. Their increase while the upward movement may indicate a successfully triggered trap. Possible price downward reversal.
  4. MVP line is above the price and acts as a resistance level.
  5. The risk-to-profit ratio allows us to set Take Profit for a Short trade at 1.1495
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