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 (1.1350)
13:14
13:14
Jul. 7, 2020

+60 p
1.1350
Target 1
1.1290
Entry
-65 p
1.1225
Stop Loss
Chart & Analyst Comments
main-buy-market-trend-1
  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.
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