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

October 24, 2019 6:39:46 AM by Jacob Powell
Forecast Details
PairEURUSD
Direction Buy
StatusClosed (1.1105)
6:37
6:37
Oct. 24, 2019

+50 p
1.1185
Target 1
1.1135
Entry
-45 p
1.1090
Stop Loss
Chart & Analyst Comments
EURUSD - Upward trend will continue, Long trade by market price recommended

Previous price movement provoked sellers to action, but having made a fake manoeuvre, it returned upwards. Now is a good time to enter the market with a Buy Order.

  1. Analyzing the market sentiment with Current Ratio indicator, we see a formed signal that confirms our idea of Buy Order.
  2. The activity of "fresh" sellers in a downtrend may indicate that the market expects the recovery of the bear trend. However, according to our analysis, this movement is corrective and we expect the price to go up
  3. Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.