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

October 8, 2020 11:28:51 AM by Jacob Powell
Forecast Details
PairEURUSD
Direction Buy
StatusClosed (1.182)
11:24
11:24
Oct. 8, 2020

+65 p
1.1820
Target 2
+45 p
1.1800
Target 1
1.1755
Entry
-65 p
1.1690
Stop Loss
Chart & Analyst Comments
EURUSD - Upward trend will continue, Long trade by market price recommended
  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.