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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 Time6/21/24 8:27 AM
Direction Sell
Status Closed (1.0680)
8:27
8:27
Jun. 21, 2024
Forecast
-80 p
1.0760
Stop Loss
1.0680
Entry
+80 p
1.0600
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. We see an accumulation of loss buyers above the current price in the right Order Book. This cluster can act as a resistance.
  3. MVP line is above the price and acts as a resistance level.
  4. Set Take Profit at the local low, beyond which there is a cluster of orders.
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