EURUSD - Upward trend will continue, Long trade by market price recommended
October 8, 2020 11:28:51 AM
Forecast Details
PairEURUSD
Direction
Buy
StatusClosed (1.182)
+65 p
1.1820
Target 2
+45 p
1.1800
Target 1
1.1755
Entry
-65 p
1.1690
Stop Loss
About Author
Jacob Powell
Expert
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Total votes: 96
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Chart & Analyst Comments
- 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.
- In this sideways movement, retail traders prefer to hold short trades. There seem to be a major player interest in an upward movement.
- MVP line is below the price and acts as a support level.
- Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
- 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.
