EURUSD - Downward trend will continue, Short trade by market price recommended
April 24, 2020 6:21:20 AM
Forecast Details
PairEURUSD
Direction
Sell
StatusClosed (1.083)
-60 p
1.0830
Stop Loss
1.0770
Entry
+55 p
1.0715
Target 1
About Author
Jacob Powell
Expert
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Total votes: 140
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Chart & Analyst Comments
- The Current Ratio indicator, which is used for quick market sentiment analysis, provides Sell signal at the moment.
- 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.
- 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.
- 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.
