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

June 24, 2020 4:48:04 PM by Jacob Powell
Forecast Details
PairEURUSD
Direction Buy
StatusClosed
16:46
16:46
Jun. 24, 2020

+80 p
1.1350
Target 1
1.1270
Entry
-80 p
1.1190
Stop Loss
Chart & Analyst Comments
EURUSD - Upward trend will continue, Long trade by market price recommended
  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 Profit Ratio reversal indicator doesn't react on upward movement. This means that the movement is not fake.
  3. 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
  4. The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
  5. Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.