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EURUSD - Downward trend will continue, Short trade by market price recommended

Jacob Powell on FXSSI Jacob Powell Expert
main-sell-market-trend-1
Forecast Details
PairEURUSD
Publication Time7/25/24 7:18 AM
Direction Sell
Status Closed (1.0820)
7:18
7:18
Jul. 25, 2024
Forecast
-40 p
1.0875
Stop Loss
1.0835
Entry
+45 p
1.0790
Target 1
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Chart & Analyst Comments

main-sell-market-trend-1
  1. The ratio of buyers and sellers is close to parity, it's time to think about price turning down.
  2. 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.
  3. MVP line is above the price and acts as a resistance level.
  4. Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.
  5. The risk/reward ratio allows you to set Take Profit at the same level where the SLC indicator signals that there are Stop orders - 1.079
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