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

October 8, 2020 11:28:51 AM by Jacob Powell
Forecast Details
Direction Buy
StatusClosed (1.1820)
Oct. 8, 2020

+65 p
Target 2
+45 p
Target 1
-65 p
Stop Loss
Chart & Analyst Comments
  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. In this sideways movement, retail traders prefer to hold short trades. There seem to be a major player interest in an upward movement.
  3. MVP line is below the price and acts as a support level.
  4. Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
  5. The rise in price will be accompanied by triggering of the market crowd’s Stop Losses, which in turn will serve as a “fuel” for the upward movement.
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