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

February 12, 2020 7:29:49 AM by Jacob Powell
Forecast Details
PairEURUSD
Direction Sell
StatusClosed (1.0875)
7:28
7:28
Feb. 12, 2020

-44 p
1.0950
Stop Loss
1.0905
Entry
+44 p
1.0860
Target 1
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. The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
  3. MVP line is above the price and acts as a resistance level.
  4. Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.
  5. Set Take profit at the local price minimum.