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

July 22, 2019 11:46:27 AM by Patrick Yang
Forecast Details
PairEURUSD
Direction Sell
StatusClosed (1.114)
Start
End
Jul. 22, 2019
Jul. 29, 2019

-79 p
1.1300
Stop Loss
1.1220
Entry
+80 p
1.1140
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 only Short trades at this time.
  2. The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
  3. The Profit Ratio reversal indicator doesn't react on downward movement. This means that the movement is not fake.
  4. We see an accumulation of loss buyers above the current price in the right Order Book. This cluster can act as a resistance.