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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 Time10/22/24 7:34 AM
Direction Sell
Status Closed (1.0795)
7:34
7:34
Oct. 22, 2024
Forecast
-30 p
1.0855
Stop Loss
1.0825
Entry
+30 p
1.0795
Target 1
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Chart & Analyst Comments

main-sell-market-trend-1
  1. The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
  2. 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.
  3. MVP line is above the price and acts as a resistance level.
  4. The risk-to-profit ratio allows us to set Take Profit for a Short trade at 1.0795
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