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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 Time9/21/21 7:55 AM
Direction Sell
Status Closed (1.1715)
7:53
7:53
Sep. 21, 2021
Forecast
-55 p
1.1780
Stop Loss
1.1725
Entry
+50 p
1.1675
Target 1
+70 p
1.1655
Target 2
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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. The Delta of the Profit Ratio indicator exceeds the threshold value of 2%. A decrease of EURUSD price is expected.
  3. The increase in buyers is observed both in the downward movement and in the retracement movements. Retail traders still believe in the possibility of price increase.
  4. MVP line is above the price and acts as a resistance level.
  5. The first target is at the level of the previous bottom - 1.1675, and the second one, in case of an active price decrease, is at the level - 1.1655
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