EURUSD - Downward trend will continue, Short trade by market price recommended
July 8, 2019 11:05:35 AM
Forecast Details
PairEURUSD
Direction
Sell
StatusClosed (1.1265)
-99 p
1.1320
Stop Loss
1.1220
Entry
+100 p
1.1120
Target 1
About Author
Patrick Yang
Expert
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Chart & Analyst Comments
- According to the most brokers’ data, more than half of the traders are currently in long positions on EURUSD. As a result, we recommend considering only Short trades at this time.
- We are seeing an increase in Buy positions by market crowd, who are replenishing an already large number of "locked up" losing Buy positions.
- The price decrease will be accompanied by the trigger of market crowds’ stop losses, which in turn will serve as a "fuel" for the downward movement.