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

October 1, 2020 7:38:31 AM by Alexander Zorevyk
Forecast Details
PairUSDCHF
Direction Sell
StatusClosed (0.9200)
7:37
7:37
Oct. 1, 2020

-95 p
0.9295
Stop Loss
0.9200
Entry
+80 p
0.9120
Target 1
+100 p
0.9100
Target 2
Chart & Analyst Comments
main-sell-market-trend-1
  1. 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.
  2. 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.
  3. MVP line is above the price and acts as a resistance level.
  4. Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.
  5. 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
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