EURUSD - Downward trend will continue, Short trade by market price recommended

May 11, 2020 7:35:45 PM by Jacob Powell
Forecast Details
PairEURUSD
Direction Sell
StatusClosed (1.0865)
19:31
19:31
May 11, 2020

-55 p
1.0865
Stop Loss
1.0810
Entry
+55 p
1.0755
Target 1
+84 p
1.0725
Target 2
Chart & Analyst Comments
EURUSD - Downward trend will continue, Short trade by market price recommended
  1. According to the most brokers’ data, more than half of the traders are currently in long positions on EURUSD. As a result, we recommend considering only Short trades at this time.
  2. There is an increase in the number of bulls on the upward movement, followed by correction. We consider this movement as a trap for buyers and look forward for a continuation of the downtrend.
  3. The dynamics of the Ratios indicator signals for Short opportunities. Pay attention to the area marked on the image.
  4. MVP line is above the price and acts as a resistance level.
  5. The first target is at the level of the previous bottom - 1.0755, and the second one, in case of an active price decrease, is at the level - 1.0725