EURUSD - Downward trend will continue, Short trade by market price recommended
July 22, 2019 11:46:27 AM
Forecast Details
PairEURUSD
Direction
Sell
StatusClosed (1.114)
-79 p
1.1300
Stop Loss
1.1220
Entry
+80 p
1.1140
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.
- The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
- The Profit Ratio reversal indicator doesn't react on downward movement. This means that the movement is not fake.
- We see an accumulation of loss buyers above the current price in the right Order Book. This cluster can act as a resistance.