- 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.
- The activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
- Price broke through the MVP line and rushed down. We consider this a sign for further EURUSD price decrease.
- We see an accumulation of loss buyers above the current price in the right Order Book. This cluster can act as a resistance.
- The drop in price will be accompanied by triggering of the market crowd’s Stop Losses, which in turn will serve as a “fuel” for the downward movement.
Chart & Analyst Comments
