EURUSD - Downward trend will continue, Short trade by market price recommended

July 8, 2019 11:05:35 AM by Patrick Yang
Forecast Details
PairEURUSD
Direction Sell
StatusClosed (1.1265)
Start
End
Jul. 8, 2019
Jul. 15, 2019

-99 p
1.1320
Stop Loss
1.1220
Entry
+100 p
1.1120
Target 1
Chart & Analyst Comments
EURUSD - Downward trend will continue, Short trade by market price recommended
  1. 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 going only short at this time.
  2. We are seeing an increase in buy positions by market crowd, who are replenishing an already large number of "locked up" losing buy positions.
  3. The price decrease will be accompanied by trigger of market crowds’ stop losses, which in turn will serve as a "fuel" for downward movement.