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

February 24, 2021 7:31:10 PM by Jacob Powell
Forecast Details
PairEURUSD
Direction Buy
StatusClosed (1.2210)
19:29
19:29
Feb. 24, 2021

+70 p
1.2210
Target 1
1.2140
Entry
-70 p
1.2070
Stop Loss
Chart & Analyst Comments
main-buy-market-trend-1
  1. According to the most brokers’ data, more than half of the traders are currently in short positions on EURUSD. As a result, we recommend considering only Long trades at this time.
  2. The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
  3. The number of profitable buyers has exceeded 75%. The uptrend is in its active phase. This confirms potential for a Long trade.
  4. MVP line is below the price and acts as a support level.
  5. Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
  6. The trade is aimed at the previous high breakout. The SLC indicator signals us to set our target at the level where most Stop Losses are placed - 1.221
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