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

July 18, 2019 4:19:44 PM by Jacob Powell
Forecast Details
PairEURUSD
Direction Sell
StatusClosed (1.128)
16:14
16:14
Jul. 18, 2019

-54 p
1.1280
Stop Loss
1.1225
Entry
+60 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 activity of "fresh" buyers in an uptrend may indicate that the market is waiting for the recovery of the bull trend. However, according to our analysis, this movement is corrective and we expect the price to go down.
  3. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  4. MVP line is above the price and acts as a resistance level.