USDCHF - Downward trend will continue, Short trade by market price recommended
July 2, 2020 6:16:03 AM
Forecast Details
PairUSDCHF
Direction
Sell
StatusClosed (0.9455)
-55 p
0.9510
Stop Loss
0.9455
Entry
+55 p
0.9400
Target 1
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 activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
- MVP line is above the price and acts as a resistance level.
- We see an accumulation of loss buyers above the current price in the right Order Book. This cluster can act as a resistance.
- 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.
