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EURUSD - Upward trend will continue, Long trade by market price recommended

Jacob Powell on FXSSI Jacob Powell Expert
main-buy-market-trend-1
Forecast Details
PairEURUSD
Publication Time8/16/24 7:50 AM
Direction Buy
Status Closed (1.1020)
7:50
7:50
Aug. 16, 2024
Forecast
+40 p
1.1020
Target 1
1.0980
Entry
-35 p
1.0945
Stop Loss
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Chart & Analyst Comments

main-buy-market-trend-1
  1. According to the most brokers’ data, more than half of the traders are currently in short positions on EURUSD. As a result, we recommend considering only Long trades at this time.
  2. The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
  3. MVP line is below the price and acts as a support level.
  4. Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
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