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

July 22, 2019 11:46:27 AM by Patrick Yang
Forecast Details
Direction Sell
StatusClosed (1.1140)
Jul. 22, 2019
Jul. 29, 2019

-80 p
Stop Loss
+80 p
Target 1
Chart & Analyst Comments
  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.
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