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

July 7, 2020 1:19:34 PM by Jacob Powell
Forecast Details
PairEURUSD
Direction Buy
StatusClosed (1.135)
13:14
13:14
Jul. 7, 2020

+60 p
1.1350
Target 1
1.1290
Entry
-64 p
1.1225
Stop Loss
Chart & Analyst Comments
EURUSD - Upward trend will continue, Long trade by market price recommended
  1. According to the most brokers’ data, more than half of the traders are currently in short positions on EURUSD. As a result, we recommend considering only Long trades at this time.
  2. The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
  3. MVP line is below the price and acts as a support level.
  4. In the left orderbook, we see a cluster of stop losses and stop orders right at the level of the previous peak. This is a good level for placing take profit according to our forecast.