EURUSD - Downward trend will continue, Short trade by market price recommended
May 11, 2020 7:35:45 PM
Forecast Details
PairEURUSD
Direction
Sell
StatusClosed (1.0865)
-55 p
1.0865
Stop Loss
1.0810
Entry
+55 p
1.0755
Target 1
+85 p
1.0725
Target 2
About Author
Jacob Powell
Expert
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Chart & Analyst Comments
- 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.
- 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.
- The dynamics of the Ratios indicator signals for Short opportunities. Pay attention to the area marked on the image.
- MVP line is above the price and acts as a resistance level.
- 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
