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

July 2, 2020 6:16:03 AM by Alexander Zorevyk
Forecast Details
PairUSDCHF
Direction Sell
StatusClosed (0.9455)
6:09
6:09
Jul. 2, 2020

-54 p
0.9510
Stop Loss
0.9455
Entry
+55 p
0.9400
Target 1
Chart & Analyst Comments
USDCHF - Downward trend will continue, Short trade by market price recommended
  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 activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
  3. MVP line is above the price and acts as a resistance level.
  4. We see an accumulation of loss buyers above the current price in the right Order Book. This cluster can act as a resistance.
  5. The SLC indicator displays a cluster of Stop Losses and Stop orders straight at the previous low level, which according to our forecast, is good for placing Take Profit.