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

February 8, 2021 1:10:02 PM by Jacob Powell
Forecast Details
PairEURUSD
Direction Buy
StatusClosed (1.209)
13:05
13:05
Feb. 8, 2021

+60 p
1.2085
Target 1
1.2025
Entry
-60 p
1.1965
Stop Loss
Chart & Analyst Comments
EURUSD - Upward trend will continue, Long trade by market price recommended
  1. Since the CurrentRatio sentiment indicator informs us that the market crowd is selling, we should consider sticking to Buy Orders.
  2. We are seeing an increase in Sell positions by market crowd, who are replenishing an already large number of "locked up" losing Sell positions.
  3. Price broke through the MVP line and rushed up. We consider this a sign for further EURUSD price increase.
  4. Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
  5. The trade is aimed at the previous high breakout. The SLC indicator signals us to set our target at the level where most Stop Losses are placed - 1.2085