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

June 2, 2022 10:05:15 AM by Alexander Zorevyk
Forecast Details
PairUSDCHF
Direction Sell
StatusClosed (0.9590)
10:05
10:05
Jun. 2, 2022

-60 p
0.9660
Stop Loss
0.9600
Entry
+60 p
0.9540
Target 1
+85 p
0.9515
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 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. In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
  4. The first target is at the level of the previous bottom - 0.954, and the second one, in case of an active price decrease, is at the level - 0.9515
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