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

January 21, 2021 12:23:28 PM by Jacob Powell
Forecast Details
PairEURUSD
Direction Buy
StatusClosed (1.2165)
12:18
12:18
Jan. 21, 2021

+85 p
1.2225
Target 2
+60 p
1.2200
Target 1
1.2140
Entry
-65 p
1.2075
Stop Loss
Chart & Analyst Comments
EURUSD - Upward trend will continue, Long trade by market price recommended
  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 activity of "fresh" sellers in a downtrend may indicate that the market expects the recovery of the bear trend. However, according to our analysis, this movement is corrective and we expect the price to go up
  3. MVP line is below the price and acts as a support level.
  4. Here we see an accumulation of sellers "locked" with a loss positions. We consider this zone as a support.
  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 - 1.22