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

Jacob Powell on FXSSI Jacob Powell Expert
main-sell-market-trend-1
Forecast Details
PairEURUSD
Publication Time9/19/23 12:50 PM
Direction Sell
Status Closed (1.0700)
12:50
12:50
Sep. 19, 2023
Forecast
-50 p
1.0750
Stop Loss
1.0700
Entry
+50 p
1.0650
Target 1
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Chart & Analyst Comments

main-sell-market-trend-1
  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 only Short trades at this time.
  2. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  3. MVP line is above the price and acts as a resistance level.
  4. The SLC indicator displays a cluster of Stop Losses and Stop orders straight at the previous low level, which according to our forecast, is good for placing Take Profit.
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