For this forecast, we recommend to set Sell Limit at the following price - 1.1055. This idea is based on the following analysis:
- Majority of traders are still holding onto Longs. This means we should continue to Sell EURUSD.
- We see a sharp increase in buy orders as indicated by a number of brokers, which may indicate an interest of a big market player. We are expecting a downward movement.
- The decrease in the sellers volume, together with the increase in the buyers volume, confirms the need to Sell according to our trading idea.
- MVP line is above the price and acts as a resistance level.
- Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.
