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

May 17, 2021 8:19:29 AM by Jacob Powell
Forecast Details
PairEURUSD
Direction Buy
StatusClosed (1.2200)
8:17
8:17
May 17, 2021

+100 p
1.2235
Target 2
+65 p
1.2200
Target 1
1.2135
Entry
-70 p
1.2065
Stop Loss
Chart & Analyst Comments
main-buy-market-trend-1
  1. The Current Ratio indicator have reached a critical value, too many traders expect a downward movement. In this case, we recommend to Buy only.
  2. The number of profitable buyers has exceeded 75%. The uptrend is in its active phase. This confirms potential for a Long trade.
  3. There is an increase in the number of bears on the downward movement, followed by correction. We consider this movement as a trap for sellers and look forward for a continuation of the uptrend.
  4. MVP line is below the price and acts as a support level.
  5. The first target is at the level of the previous peak - 1.22, and the second one, in case of an active price increase, is at the level - 1.2235
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