EURUSD - Upward trend will continue, Long trade by market price recommended
May 31, 2021 8:40:14 AM
Forecast Details
PairEURUSD
Direction
Buy
StatusClosed (1.223)
+90 p
1.2280
Target 2
+70 p
1.2260
Target 1
1.2190
Entry
-65 p
1.2125
Stop Loss
About Author
Jacob Powell
Expert
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Total votes: 74
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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 number of profitable buyers has exceeded 75%. The uptrend is in its active phase. This confirms potential for a Long trade.
- The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
- MVP line is below the price and acts as a support level.
- The first target is at the level of the previous peak - 1.226, and the second one, in case of an active price increase, is at the level - 1.228
