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

June 8, 2022 3:15:40 PM by Jacob Powell
Forecast Details
PairEURUSD
Direction Buy
StatusClosed (1.0655)
15:15
15:15
Jun. 8, 2022

+100 p
1.0835
Target 2
+75 p
1.0810
Target 1
1.0735
Entry
-80 p
1.0655
Stop Loss
Chart & Analyst Comments
main-buy-market-trend-1
  1. The ratio of buyers and sellers is close to parity, it's time to think about price turning up.
  2. When the price decreases, a signal is formed (orange labels), which implies an upward movement.
  3. In this sideways movement, retail traders prefer to hold short trades. There seem to be a major player interest in an upward movement.
  4. Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
  5. The first target is at the level of the previous peak - 1.081, and the second one, in case of an active price increase, is at the level - 1.0835
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