EURUSD - Upward trend will continue, Long trade by market price recommended
January 21, 2021 12:23:28 PM
Forecast Details
PairEURUSD
Direction
Buy
StatusClosed (1.2165)
+85 p
1.2225
Target 2
+60 p
1.2200
Target 1
1.2140
Entry
-65 p
1.2075
Stop Loss
About Author
Jacob Powell
Expert
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Total votes: 92
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Chart & Analyst Comments
- 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.
- 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
- MVP line is below the price and acts as a support level.
- Here we see an accumulation of sellers "locked" with a loss positions. We consider this zone as a support.
- 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
