EURUSD - Upward trend will continue, Long trade by market price recommended
June 24, 2020 4:48:04 PM
Forecast Details
PairEURUSD
Direction
Buy
StatusClosed
+80 p
1.1350
Target 1
1.1270
Entry
-80 p
1.1190
Stop Loss
About Author
Jacob Powell
Expert
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Total votes: 110
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Chart & Analyst Comments
- 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.
- The Profit Ratio reversal indicator doesn't react on upward movement. This means that the movement is not fake.
- 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 - 1.135
- The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
- Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
