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

May 31, 2021 8:40:14 AM by Jacob Powell
Forecast Details
PairEURUSD
Direction Buy
StatusClosed (1.223)
8:35
8:35
May 31, 2021

+90 p
1.2280
Target 2
+70 p
1.2260
Target 1
1.2190
Entry
-65 p
1.2125
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 number of profitable buyers has exceeded 75%. The uptrend is in its active phase. This confirms potential for a Long trade.
  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. MVP line is below the price and acts as a support level.
  5. 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