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

June 1, 2020 1:55:01 PM by Alexander Zorevyk
Forecast Details
PairUSDCHF
Direction Sell
StatusClosed (0.9575)
13:31
13:31
Jun. 1, 2020

-55 p
0.9675
Stop Loss
0.9620
Entry
+44 p
0.9575
Target 1
+64 p
0.9555
Target 2
Chart & Analyst Comments
USDCHF - Downward trend will continue, Short trade by market price recommended
  1. Majority of traders are still holding onto Longs. This means we should continue to Sell USDCHF.
  2. Upward price movement is accompanied by reversal signals of Profit Ratio indicator.
  3. The activity of "fresh" buyers in an uptrend may indicate that the market expects the recovery of the bull trend. However, according to our analysis, this movement is corrective and we expect the price to go down.
  4. MVP line is above the price and acts as a resistance level.
  5. The drop in price will be accompanied by triggering of the market crowd’s Stop Losses, which in turn will serve as a “fuel” for the downward movement.