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

May 6, 2020 9:27:17 AM by Jacob Powell
Forecast Details
PairEURUSD
Direction Sell
StatusClosed (1.078)
9:25
9:25
May 6, 2020

-60 p
1.0860
Stop Loss
1.0800
Entry
+70 p
1.0730
Target 1
+100 p
1.0700
Target 2
Chart & Analyst Comments
EURUSD - Downward trend will continue, Short trade by market price recommended
  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 Ratios indicator shows the change in the ratio of market players towards buyers. Their increase while the downtrend may indicate the activity of averaging traders. This can serve as "fuel" for further downtrend.
  3. MVP line is above the price and acts as a resistance level.
  4. The price decrease will be accompanied by the trigger of market crowds’ stop losses, which in turn will serve as a "fuel" for the downward movement.