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

August 2, 2021 8:32:17 AM by Alexander Zorevyk
Forecast Details
PairUSDCHF
Direction Sell
StatusClosed (0.9035)
8:30
8:30
Aug. 2, 2021

-60 p
0.9115
Stop Loss
0.9055
Entry
+60 p
0.8995
Target 1
Chart & Analyst Comments
USDCHF - Downward trend will continue, Short trade by market price recommended
  1. The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
  2. The Ratios indicator shows the change in the ratio of market players towards buyers. Their increase while the downtrend may indicate the activity of averaging traders. This can serve as "fuel" for further downtrend.
  3. The activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
  4. The MVP indicator shows the downtrend. We take this into account as one of the important factors in today's forecast.
  5. Here is the crucial stop loss level to serve as a goal for our Sell trade idea.