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

May 7, 2020 6:19:10 PM by Jacob Powell
Forecast Details
PairEURUSD
Direction Sell
StatusClosed (1.0830)
18:17
18:17
May 7, 2020

-70 p
1.0900
Stop Loss
1.0830
Entry
+70 p
1.0760
Target 1
+100 p
1.0730
Target 2
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 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. After a slight upward price movement, profitable buyers actively begin to take profits, returning the price to its original position.
  5. The first target is at the level of the previous bottom - 1.076, and the second one, in case of an active price decrease, is at the level - 1.073
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