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

November 4, 2019 6:30:28 AM by Patrick Yang
Forecast Details
PairEURUSD
Direction Buy
StatusClosed (1.1025)
Start
End
Nov. 4, 2019
Nov. 11, 2019

+155 p
1.1320
Target 1
1.1165
Entry
-155 p
1.1010
Stop Loss
Chart & Analyst Comments
EURUSD - Upward trend will continue, Long trade by market price recommended

Only Long trades is in play today for EURUSD. Considering the trend is in its active phase, your Buy Order(s) should be opened at the market price since the corrections are unlikely. Check out the picture above for further explanation:

  1. The Current Ratio indicator have reached a critical value, too many traders expect a downward movement. In this case, we recommend to Buy only.
  2. The Profit Ratio reversal indicator doesn't react on upward movement. This means that the movement is not fake.
  3. The activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
  4. Here is the crucial stop loss level to serve as a goal for our Buy trade idea.
  5. This cluster of orders acts as a support. For our forecast, stop loss is reasonable to set lower than this cluster.