USDCHF - Downward trend will continue, Short trade by market price recommended
October 1, 2020 7:38:31 AM
Forecast Details
PairUSDCHF
Direction
Sell
StatusClosed (0.92)
-95 p
0.9295
Stop Loss
0.9200
Entry
+80 p
0.9120
Target 1
+100 p
0.9100
Target 2
About Author
Alexander Zorevyk
Expert
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Total votes: 10
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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 USDCHF. As a result, we recommend considering only Short trades at this time.
- The increase in buyers is observed both in the downward movement and in the retracement movements. Retail traders still believe in the possibility of price increase.
- 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.
- The trade is aimed at the previous low breakout. The SLC indicator signals us to set our target at the level where most Stop Losses are placed - 0.912
