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

Jacob Powell on FXSSI Jacob Powell Expert
main-sell-market-trend-1
Forecast Details
PairEURUSD
Publication Time10/15/24 7:12 AM
Direction Sell
Status Closed (1.0885)
7:12
7:12
Oct. 15, 2024
Forecast
-50 p
1.0940
Stop Loss
1.0890
Entry
+45 p
1.0845
Target 1
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Chart & Analyst Comments

main-sell-market-trend-1
  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 activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
  3. The MVP indicator shows the downtrend. We take this into account as one of the important factors in today's forecast.
  4. The risk-to-profit ratio allows us to set Take Profit for a Short trade at 1.0845
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