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

October 22, 2020 6:58:24 AM by Jacob Powell
Forecast Details
PairEURUSD
Direction Buy
StatusClosed (1.1790)
6:54
6:54
Oct. 22, 2020

+95 p
1.1945
Target 2
+70 p
1.1920
Target 1
1.1850
Entry
-60 p
1.1790
Stop Loss
Chart & Analyst Comments
main-buy-market-trend-1
  1. Majority of traders are still holding onto Shorts. This means we should continue to Buy EURUSD.
  2. We are seeing an increase in Sell positions by market crowd, who are replenishing an already large number of "locked up" losing Sell positions.
  3. The Ratios indicator shows the change in the ratio of market players towards sellers. Their increase while the uptrend may indicate the activity of averaging traders. This can serve as "fuel" for further uptrend.
  4. MVP line is below the price and acts as a support level.
  5. The first target is at the level of the previous peak - 1.192, and the second one, in case of an active price increase, is at the level - 1.1945
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