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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 Time5/31/24 6:30 AM
Direction Sell
Status Closed (1.0840)
6:30
6:30
May 31, 2024
Forecast
-25 p
1.0840
Stop Loss
1.0815
Entry
+25 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. The Profit Ratio reversal indicator doesn't react on downward movement. This means that the movement is not fake.
  3. Price broke through the MVP line and rushed down. We consider this a sign for further EURUSD price decrease.
  4. The SLC indicator displays a cluster of Stop Losses and Stop orders straight at the previous low level, which according to our forecast, is good for placing Take Profit.
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