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

February 6, 2020 7:29:58 AM by Jacob Powell
Forecast Details
Direction Sell
StatusClosed (1.0970)
Feb. 6, 2020

-50 p
Stop Loss
+50 p
Target 1
Chart & Analyst Comments

For today's forecast, we recommend a Sell Order at this recommended market price - 1.1. This idea is based on the following analysis:

  1. Since the CurrentRatio sentiment indicator informs us that the market crowd is buying, we should consider sticking to Sell Orders.
  2. The activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
  3. MVP line is above the price and acts as a resistance level.
  4. Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.
  5. We are setting the take profit of our Sell Order to the closest level with a large number of stop losses.
    index: 1x 0.035188913345337s
t_/pages/forecast: 1x 0.032141923904419s
t_/common/header-new: 1x 0.020173072814941s
t_/common/head: 1x 0.016511917114258s
t_/common/footer-new: 1x 0.0027740001678467s
router_page: 1x 0.001600980758667s
router: 1x 0.0007469654083252s
t_/popups/on-download: 1x 0.0005180835723877s
service-routes: 1x 0.00031208992004395s
router_redirection: 1x 0.00013995170593262s
t_/popups/zoom: 1x 3.1948089599609E-5s
----- END OF DUMP (2023-02-02 15:33:02)  -----