EURUSD - Downward trend will continue, Short trade by market price recommended

April 24, 2020 6:21:20 AM by Jacob Powell
Forecast Details
PairEURUSD
Direction Sell
StatusClosed (1.083)
6:04
6:04
Apr. 24, 2020

-60 p
1.0830
Stop Loss
1.0770
Entry
+55 p
1.0715
Target 1
Chart & Analyst Comments
EURUSD - Downward trend will continue, Short trade by market price recommended
  1. The Current Ratio indicator, which is used for quick market sentiment analysis, provides Sell signal at the moment.
  2. We see a sharp increase in buy orders as indicated by a number of brokers, which may indicate an interest of a big market player. We are expecting a downward movement.
  3. MVP line is above the price and acts as a resistance level.
  4. Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.
  5. The price decrease will be accompanied by the trigger of market crowds’ stop losses, which in turn will serve as a "fuel" for the downward movement.