The market has stabilized, the first signs of an uptrend appeared

August 17, 2020 8:35:14 AM by Jacob Powell
Forecast Details
PairEURUSD
Direction Buy
StatusClosed (1.181)
8:22
8:22
Aug. 17, 2020

+105 p
1.1915
Target 2
+75 p
1.1885
Target 1
1.1810
Entry
-90 p
1.1720
Stop Loss
Chart & Analyst Comments
The market has stabilized, the first signs of an uptrend appeared
  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 decrease in the buyers volume, together with the increase in the sellers volume, confirms the need to Buy, according to our trading idea.
  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.
  5. The trade is aimed at the previous high breakout. The SLC indicator signals us to set our target at the level where most Stop Losses are placed - 1.1885