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

September 29, 2020 8:53:14 AM by Jacob Powell
Forecast Details
PairEURUSD
Direction Buy
StatusClosed (1.175)
8:46
8:46
Sep. 29, 2020

+75 p
1.1750
Target 1
1.1675
Entry
-65 p
1.1610
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 Ratios indicator shows the change in the ratio of market players towards sellers. Their increase while the uptrend may indicate the activity of averaging traders. This can serve as "fuel" for further uptrend.
  3. The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
  4. Price broke through the MVP line and rushed up. We consider this a sign for further EURUSD price increase.
  5. The price increase will be accompanied by the trigger of market crowd’s stop losses, which in turn will serve as a "fuel" for the upward movement.