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

July 17, 2019 4:54:50 AM by Jacob Powell
Forecast Details
PairEURUSD
Direction Sell
StatusClosed (1.1235)
4:41
4:41
Jul. 17, 2019

-55 p
1.1270
Stop Loss
1.1215
Entry
+49 p
1.1165
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 going only short at this time.
  2. The indicator shows a slight increase in buyers. This suggests that the market crowd responded to this level.
  3. MVP line is above the price and acts as a resistance level.
  4. In the left orderbook, we see a cluster of stop losses and stop orders right at the level of the previous support. This is a good level for placing take profit according to our forecast.