EURUSD - Downward trend will continue, Short trade by market price recommended
January 22, 2020 7:40:16 AM
Forecast Details
PairEURUSD
Direction
Sell
StatusClosed (1.1087)
-44 p
1.1125
Stop Loss
1.1080
Entry
+45 p
1.1035
Target 1
About Author
Jacob Powell
Expert
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Chart & Analyst Comments
- 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.
- The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
- MVP line is above the price and acts as a resistance level.
- Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.
- These accumulation of retail traders stop losses coincide with the level of the previous low. This level will serve as the target for our trade.